On January $1,2020,$ Parent Corporation acquired $60$ percent of the outstanding voting stock of Subsidiary Company. Parent uses the equity method in its internal records to account for its investment in Subsidiary. Since being acquired, Subsidiary has regularly supplied inventory to Parent, and mark up the inventory at $25$ percent more than cost $($i$.$e$.,$ Gross profit rate $($GPR$)$ is $20\%).$ Sales to Parent amounted to $$450,000$ in $2020$ and $$550,000$ in $2021.$ Approximately $35$ percent of the inventory purchased during any one year is not used until the following year.

Prepare Parent's $2021$ consolidation entries required by the intra$-$entity inventory transfers $($i$.$e$.,[*$G$],[$TI$],$ and $[$G$]).$