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What adjustment should HARRY make to equity income

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Question - HARRY has a 30 % interest in POTTER, a joint venture. POTTER sold 100,000 in merchandise to HARRY during the year at its normal gross margin of 40%. By the end of the year, HARRY had sold 80% of this merchandise to an external customer. What adjustment should HARRY make to equity income from POTTER as a result of the unrealized profit in ending inventory?

Reference no: EM133087854

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