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Interco-Elimination - Accounting Entries>>?
Can i have advice on interco- elimination account
Sales >>2250
COGS>>125
upon elimination
Dr. Interco Sales 2250
Cr. Normal COGS 2250
Dr. CTA-E 125
Cr. Interco. COGS 125
Im confused on the elimination entries towards Normal COGS/ CTA-E
Why the account of inventories[other current asset not reversed] >> as their inventory value has been marked up
Instead, Normal COGS / CTA-E account to be recognised?
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