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When there are intercompany sales of inventory during the year and a three-part consolidation worksheet is prepared, consolidation entries related to the intercompany sales: I.

When there are intercompany sales of inventory during the year and a three-part consolidation worksheet is prepared, consolidation entries related to the intercompany sales:

  1. I. Always are needed.
  2. II. Are not needed if the entire inventory is resold to unrelated parties prior to the end of the year.

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