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Defer intercompany profits on merchandise sales

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Reference no: EM13529054

Explain the process involved to:
1.Defer intercompany profits on merchandise sales when appropriate and eliminate the double counting of sales between affiliates.
2.Defer profits on intercompany sales of long-term assets and realize the profits over the period of use and/or at the time of sale to a firm outside the consolidated group.

Reference no: EM13529054

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