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A subsidiary sold inventory to its parent entity for $40,000. The inventory originally cost the subsidiary $32,000. At balance sheet date, the parent had 20%

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A subsidiary sold inventory to its parent entity for $40,000. The inventory originally cost the subsidiary $32,000. At balance sheet date, the parent had 20% of the inventory still on hand. The consolidation adjustment entry will eliminate unrealised profit amounting to: Select one: 0 A. $9600. 0 B. $6400. 0 C. $8000. 0 D. $1600

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