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Alex Company owns 80 percent of the common stock of Cairo Company. During the year,...

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Accounting

Alex Company owns 80 percent of the common stock of Cairo Company. During the year, Alex sold merchandise that cost $9,000 to Cairo for $15,000. At the end of the year, Cairo 's ending inventory included merchandise that was purchased from Alex for $3,000. What entry is required to eliminate the effect of ending inventory in the consolidation worksheet at the end of the year?
COGS
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Beginning Inventory
[Choose]
Ending Inventory
[ Choose ]
Sales
[ Choose ]
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