Rice, Inc., owns 30 percent of RCD Company and applies the equity method. During the current year, Rice buys inventory costing $92,400 and then sells it to RCD for $154,000. At the end of the year, RCD still holds only $29,800 of merchandise. What amount of gross profit must Rice defer in reporting this investment using the equity method
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Rice, Inc., owns 30 percent of RCD Company and applies the equity method. During the current year, R...