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A group of entities comprised of Mark Ltd (parent entity) and Roger Ltd (subsidiary entity) have the following inventory balances at 30 June 2021.
Mark Ltd $29 000Roger Ltd $56 000 There are two intra-group transactions incurred during the year ended on 30 June 2021. On 1 October 2020, Mark Ltd recorded $2 000 of profit (before-tax) from sale of the inventory to Roger Ltd, then on 20 May 2021, Roger Ltd recorded $4 000 of loss from sale of the inventory to Mark Ltd. All inventories transferred between Roger Ltd and Mark Ltd have not been sold to external parties. The company tax rate is 30%. Required:
Problem 1: What is the amount of total consolidated 'Inventory' balance shown on the consolidation worksheet at 30 June 2021?
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