On 1 January 2021, Alpha Ltd sold inventory to Beta Ltd for $90 000. The original cost

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On 1 January 2021, Alpha Ltd sold inventory to Beta Ltd for $90 000. The original cost of the inventory was $60 000. Beta Ltd treats the inventory in its accounts as a non-current asset.

What would be the consolidation entry to eliminate the intragroup sale ?

Related Book For answer-question

Advanced Financial Accounting

ISBN: 978-0137030385

6th edition

Authors: Thomas Beechy, Umashanker Trivedi, Kenneth MacAulay

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Posted Date: Apr 11, 2023 06:36 AM

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On 1 January 2021, Alpha Ltd sold inventory to Beta Ltd for $90 000. The original cost

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To eliminate the effects of the intragroup sale of inventory between Alpha Ltd and Beta ... View the full answer

Advanced Financial Accounting

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