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Huzzle Ltd bought goods from one its subsidiaries Sizzling Ltd. Sizzling Ltd maintains a profit margin of 20% on its sales. On December 31, 2019,
Huzzle Ltd bought goods from one its subsidiaries Sizzling Ltd. Sizzling Ltd maintains a profit margin of 20% on its sales. On December 31, 2019, Huzzle Ltd has goods worth Gh10,000 (cost to Huzzle Ltd) that it bought from Sizzling Ltd in its closing inventories. Explain the implications of the above on the Group Statement of Financial Position as at December 31, 2019.
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