Multiple Choice
A parent sold some inventory to its subsidiary for $55 000.The goods had originally cost the parent $40 000.At the end of the year all of the inventory was still on hand.The consolidation adjustment entry to eliminate this transaction will include the following line items?
A) Cr Cost of sales $15 000
B) Cr Cost of sales $40 000
C) Cr Cost of sales $95 000
D) Cr Cost of sales $55 000
Correct Answer:
Verified
Correct Answer:
Verified
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