A Co acquired 80% interest in B Co in 20X6. Since 1 January 20X7, B Co was asked to sell goods to A Co at cost plus 25%. A Co's stocks at 31 December 20X7 included $80,000 worth of goods purchased from B Co. For the year 20X8, the intragroup sales is $300,000. $200,000 worth of these goods remained in the store of A Co at 31 December 20X8. The group adopts FIFO cost flow assumptions. Assume tax of 20%. Required 1. Prepare the consolidation journal entries relating to the above intragroup sales transactions for the year ended 31 December 20X8. 2. Assume the unadjusted profit after tax in B Co is $100,000 for the year ended 31 December 20X8, determine the NCI's share of profit in B Co