Bostron Inc. acquired 75% of Paris Co. on January 2, 2024. In 2024, Boston sold Paris $460,000 of goods, which had cost $380,000. Paris still owned 20% of the goods at the end of the year. In 2025, Boston sold goods with a cost of $520,000 to Paris for $ 700,000, and Paris still owned 15% of the goods at year-end . What amount of intra- entity gross profit should be recognized through the consolidation process in 2025 ?

Answer rating: 100% (QA)

To determine the amount of intraentity gross profit recognized through the consolidation process in ... View the full answer