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How is the gross profit on sale recognized in statement

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Reference no: EM131789480

During 2015, Edwards Co. sold inventory to its parent company, Forsyth Corp. Forsyth still owned all of the inventory at the end of 2015. Required:

What type of sale is this?

How is the gross profit on the sale recognized in the consolidated financial statements for 2015? Why?

Reference no: EM131789480

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