Strickland Company sells inventory to its parent, Carter Company, at a profit during 2012. One-third of the inventory is sold by Carter in 2012. In the consolidation worksheet for 2012, which of the following choices would be a debit entry to eliminate the intra-entity transfer of inventory? A. Retained earnings. B. Cost of goods sold. C. Inventory. D. Investment in Strickland Company. E. Sales.
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