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QUESTION
er-company inventory profits from a prior period affect the computation of consolidated net income when the inventory is resold in the current period?...
How do unrealized inter-company inventory profits from a prior period affect the computation of consolidated net income when the inventory is resold in the current period? Is it important to know if the sale was upstream or downstream? Why or why not? I need at least a paragraphs and a half, please include at least one reference.
