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How to produce the consolidation journal entry

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Question - Companies in the group use the perpetual inventory system. Total intra-group sales revenue during the year were $100,000. Inventory was sold by E Ltd to R Ltd at cost plus 20%. Included in R Ltd's books was outstanding inventory purchased from E Ltd as follows:

30 June 2018 $27,000

30 June 2019 $30,000

How to produce the consolidation journal entry.

Reference no: EM132564274

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