23. Statement 1 - When merchandise is sold at a cost to the aflate entry, the inventory reported al the end of the year by the buying afflate does not require any adjustment for consolidation paper elimination entry. Statement 2 - Even if the Inventory is sold to affiliate at cost, it in stil required to prepare working a. Both are true. b. Neither is true. c. Only Statement 1 la true. d. Only Statement 2 is true