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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.
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as expected since i am having difficulty with the first part of this question it is assumed i will have a problem with
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