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What amount of unrealized gross profit must Danita defer

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Reference no: EM132945946

Question - 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.

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: EM132945946

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