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Record the consolidation elimination entries for intragroup

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Question - Dipendra Ltd owns all the shares capital of Kiran Ltd. On 1 September 2021, Dipendra Ltd sold inventory to Kiran Ltd $24,900. Dipendra Ltd originally purchased the inventory for $12,450. 80% of the inventory in Kiran Ltd was sold outside the group by 31 December 2021 (financial year end). The tax rate is 30%. Record the consolidation elimination entries for the intragroup sale of inventory.

Reference no: EM133180616

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