Unrealized profit in the ending inventory is eliminated in consolidation workpapers by increasing cost of sales and

Question:

Unrealized profit in the is eliminated in consolidation workpapers by increasing cost of sales and decreasing the inventory account. How is unrealized profit in the beginning inventory reflected in the consolidation workpapers?

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...