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The consolidating entry to eliminate deferred profit in ending inventory. A ...

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Question

Accounting

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

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