Company P has consistently sold merchandise for resale to its subsidiary at a gross profit of 20%.There were intercompany goods in both the subsidiary's beginning and ending inventory.As a result of these sales, which of the following amounts must be adjusted for when preparing only a consolidated balance sheet? ?
$\begin{array}{ccc}
\text { Sales Profit } & \text { Beginning } & \text { Ending } \
\text { by Co. P during } & \text { Inventory } & \text { Inventory } \
\text { the Year } & \text { Profit } & \text { Profit }
\end{array}$

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The Answer of Company P has consistently sold merchandise for resale to its subsidiary at a gross profit of 20%.There were intercompany goods in both the subsidiary's beginning and ending inventory.As a result of these sales, which of the following amounts must be adjusted for when preparing only a consolidated balance sheet? ?
$\begin{array}{ccc}
\text { Sales Profit } & \text { Beginning } & \text { Ending } \
\text { by Co. P during } & \text { Inventory } & \text { Inventory } \
\text { the Year } & \text { Profit } & \text { Profit }
\end{array}$

Company P Has Consistently Sold Merchandise for Resale to Its