Question: On 3 0 May 2 0 2 3 , parent entity Alexy Ltd sold inventory to subsidiary entity Bell Ltd for $ 1 5 0

On 30 May 2023, parent entity Alexy Ltd sold inventory to subsidiary entity Bell Ltd for $150,000. The original cost of the inventory was $120,000. By 30 June 2023,50% of the inventory had been sold to external customers for $100,000. What consolidation adjusting entries, if any, would be required on 30 June 2024 for this intra-group transaction?
Group of answer choices
Dr Sales $100,000; Cr COGS $100,000
Dr Retained earnings $15,000; Cr COGS $15,000
Dr Sales $150000; Cr COGS $135,000; Cr Inventory $15,000
No consolidation entries required as all the profits have become realized

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