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Assume that Birch made intra-entity inventory transfers to Aspen that have resulted in the following intra-entity gross profits in inventory at the end of each year:
Date Amount
12/31/16 $11,50012/31/17 16,40012/31/18 32,900 Problem 1: What is the accrual-based net income of Birch in 2017 and 2018, respectively?
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