Question: The consolidating entry to recognize deferred profit in beginning inventory. A (dr) Equity investment (cr) Cost of goods sold B (dr) Equity income (cr) Merchandise

The consolidating entry to recognize deferred profit in beginning inventory.

A

(dr) Equity investment

(cr) Cost of goods sold

B

(dr) Equity income

(cr) Merchandise inventory

C

(dr) Cost of goods sold

(cr) Equity investment

D

(dr) Equity investment

(cr) Merchandise inventory

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