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What would be the consolidation entries

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Question - On 1 July 2015, Fluffy Ltd acquired all the issued shares of Glider Ltd.

On 1 January 2015, Fluffy Ltd sold an item of inventory to Glider Ltd for $18 000. The inventory had cost Fluffy Ltd $16 000. This item was classified by Glider Ltd as plant. Plant of this type is depreciated by Glider Ltd at 20%

Required - What would be the consolidation entries?

Reference no: EM132716999

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