A subsidiary sold some inventories to its parent for $70 000. The goods had originally...
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Accounting
A subsidiary sold some inventories to its parent for $70 000. The goods had originally cost the subsidiary $50 000. At the end of the year all of the inventories were still on hand. The consolidation adjustment entry to eliminate this transaction will include the following line items?
Select one:
Dr Cost of sales $50 000
Dr Inventory $50 000
Cr Cost of sales $50 000
Cr Inventory $50 000
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