On January 1, 2021, Halloween Company acquired 80 percent of the outstanding voting stock of Web Delivery, Inc.

During 2021, Web Delivery purchased $400,000 of inventory from Halloween Company. Assume a 60 percent markup on cost.

At the end of 2021, 35% of current year purchases remain in Web Delivery inventory. The 35% was sold during 2022.

1. Prepare Consolidation Entry *G for 2021.

Start each line of your entry with "Debit" or "Credit"

You must show your calculations to get credit.