A Subsidiary Sold a Quantity of Inventory to Its Parent

Multiple Choice

A subsidiary sold a quantity of inventory to its parent entity at a before-tax profit of $12 000.The original cost of the inventory to the subsidiary was $41 000.At the end of the year all of the inventory was still on hand.The consolidation adjustment entry to eliminate this transaction will include which of the following line items?

A) Cr Inventory $12 000
B) Cr Inventory $53 000
C) Cr Inventory $41 000
D) Cr Inventory $29 000