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By what amount should the Sales be adjusted

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Question - Perez owns 69% of Junior, Inc. During the year just ended, Perez sold goods to Junior for $358,000 with a 23% gross profit. Junior sold all of these goods during the year. In its consolidated financial statements for the year, by what amount should the Sales and Cost of Goods Sold line be adjusted for this transaction?

Reference no: EM132781856

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