Following are the 2011 financial statements for these three companies Curle made numerous transfers of inventory to Lance since the takeover 112000 2010 and 140000 2011 These transactions included the same markup applicable to Curles outside sales In each of these years Lance carried 20 of this inventory into the succeeding year before disposing of it An effective income tax rate of 45 was applicable to all companies

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POJiticulars Amount C FOJT the investiment in curleco fais volue of cansidon atian ta... View the full answer