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_____ in 2005, Palex Sold Inventory Costing $45,000 to Its

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_____ In 2005, Palex sold inventory costing $45,000 to its 100%-owned subsidiary, Salex, for $70,000. By 12/31/05, Salex had resold all this inventory for $100,000. Which of the following accounts would have to be eliminated in consolidation at 12/31/05?
_____ In 2005, Palex sold inventory costing $45,000 to its 100%-owned subsidiary, Salex, for $70,000. By 12/31/05, Salex had resold all this inventory for $100,000. Which of the following accounts would have to be eliminated in consolidation at 12/31/05?

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