S Limited, a 100% subsidiary company of H Limited, sold goods costing 120 million to H
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S Limited, a 100% subsidiary company of H Limited, sold goods costing ₹ 120 million to H Limited for ₹ 160 million during the year. Out of these, 40% of the goods are still unsold and are included in the balance sheet of H Limited at cost to it. How will the above transaction be treated in the consolidated financial statements?
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The transaction is appearing as sale in the books of S Limited a...View the full answer
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