How is the intra-entity unrealized gross profit computed in applying the equity method?

Parrot Corporation holds a 42 percent ownership of Sunrise, Inc. The equity method is being applied. Parrot assigned the entire original excess purchase price over book value to goodwill. During 2012, the two companies made intra-entity inventory transfers. A portion of this mer- chandise was not resold until 2013. During 2013, additional transfers were made.

How is the intra-entity unrealized gross profit computed in applying the equity method?

Solution

Profit is computed as……………………………………………..

 

 

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