The consolidating entry to eliminate deferred profit in ending inventory. A (dr) Merchandise inventory (cr) Cost of
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Question:
The consolidating entry to eliminate deferred profit in ending inventory.
A | (dr) Merchandise inventory (cr) Cost of goods sold | |
B | (dr) Cost of goods sold (cr) Merchandise inventory | |
C | (dr) Equity income (cr) Merchandise inventory | |
D | (dr) Equity investment (cr) Merchandise inventory |
Related Book For
Financial Accounting an introduction to concepts, methods and uses
ISBN: 978-0324789003
13th Edition
Authors: Clyde P. Stickney, Roman L. Weil, Katherine Schipper, Jennifer Francis
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