In 2011, P acquired 90% of S. The acquisition resulted in $7 excess amortization expense each year through 2031. The following table shows amortization expense each year through 2031. The following table shows selected account balances from the two companies as of 12/31/2022:

	P	S
Cost of Goods Sold	350	238
Depreciation Expense	96	52
Inventory	416	133

Assume the following intra-entity inventory downstream transactions during 2021 and 2022.

	2021	2022
Intraentity sales	110	145
Intraentity cost of goods sold	88	116
Retained earnings	35	45

1) Solve for 2022 consolidated cost of goods sold:

P cost of goods sold:

S cost of goods sold:

Entry TI:

Entry G:

Entry *G:

Total:

2) Solve for the end of the year 2022 consolidated inventory:

P Inventory:

S Inventory:

Entry TI:

Entry G:

Entry *G:

Total: