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What amount of unrealized gross profit must danita defer

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During the current year, Danita buys inventory costing P54,000 and then sells its Pure for P90,000. At the end of the year, Pure still holds only P20,000 of merchandise.

Question 1: Assuming Danita, Inc. owns 30% of Pure and applies the equity method, what amount of unrealized gross profit must Danita defer in reporting this investment?

Reference no: EM132895896

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