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What is the primary reason we defer financial statement recognition of gross profits on intra-entity sales for goods that remain within the consolidated entity at year-end?

What is the primary reason we defer financial statement recognition of gross profits on intra-entity sales for goods that remain within the consolidated entity at year-end?<br/>

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Asked by Zdavis, Last updated: Nov 10, 2024

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zdavis5291

zdavis

zdavis5291
Zdavis

Answered Aug 29, 2019

When intra-entity sales remian in ending inventory, ownership of the goods has not changes
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