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At year-end only 24000 of merchandise was still being held

Question - Bowler Inc. owns 30% of Yarby Co. and applies the equity method. During the current year, Bowler bought inventory costing $66,000 and then sold it to Yarby for $120,000. At year-end, only $24,000 of merchandise was still being held by Yarby. What amount of unrealized gain must be deferred by Bowler?

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Accounting Basics: At year-end only 24000 of merchandise was still being held

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Accounting Basics: At year-end only 24000 of merchandise was still being held

Reference No:- TGS02548767

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