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QUESTION
How do I calculate unrealized inventory profits before and after taxes and consolidated net income??
How do I calculate unrealized inventory profits before and after taxes and consolidated net income??
This is the information for the question:
On January 1, 2017, Pepper purchased 75% of the outstanding shares of Salt for $1,275,000. At that time, Salt's assets and liabilities had the following book and fair values.
SALT LTD.
January 1, 2017
