Help Save & Exit During 2021, Hodge Co. sold Inventory to its 100% owned sub, Bison Co. The inventory cost $40K and was sold to Howard Co. for $58K. For consolidation reporting, when is the $18K Intra-entity gross profit recognized for consolidated reporting purposes? Multiple Choice When Bison pays Hodge for the goods. No gain can be recognized since the transfer was between related parties. When Hodge sold the goods to Bison When goods are transferred to a third party by Bison. When Bison receives the goods.