The purpose of consolidation entry TI is to

Multiple choice question.

increase cost of goods sold for the purchases component of an intra$-$entity inventory transfer.

include intra$-$entity transfers as normal sales$/$purchases$.$

remove the effects of intra$-$entity sales and purchases for the consolidated reporting entity.

increase the sales account for an intra$-$entity inventory transfer.

The accounting effects of inventory sales across companies within a consolidated entity are removed when preparing consolidated financial statements because

Multiple select question.

intra$-$entity inventory transfers create no net change in the financial position of the consolidated reporting entity.

from a consolidated perspective, neither a sale nor a purchase has occurred.

neither the seller nor the buyer records the intra$-$entity inventory transfer on their separate accounting systems.

consolidated statements reflect only transactions with outside parties