Perez, Inc., owns 80% of Senior, Inc. During the year just ended, Perez sold goods with a 40% gross profit to Senior. Senior sold all of these goods during the year. In its consolidated financial statements for the year, how should the summation of Perez and Senior income statement items be adjusted
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Perez, Inc., owns 80% of Senior, Inc. During the year just ended, Perez sold goods with a 40% gross...
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