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(1) On 1 June 2021, ABC Ltd acquired all the issued shares in DEF Ltd. At that date, the inventory of DEF Ltd had a

(1) On 1 June 2021, ABC Ltd acquired all the issued shares in DEF Ltd. At that date, the inventory of DEF Ltd had a fair value of $1 000 more than its carrying amount. By 30 June 2021, all of the inve...

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