Parent company sold inventory to its Sub for $75,000, which cost the parent $30,000

At Year End, the Sub had $10,000 left of inventory.

Can you please explain the jnl's? I understand that cash is canceled between both the parent and the sub, and then jnls are:

Sales DC 75,000 (to cancel the intergroup purchase)

Inventory CR $xxxx ?????

Cost of goods Sold CR $xxx ?????

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(tax % of inventory)

Deferred Tax Liability DR XXXXX

Income Tax expense CR xxxxxx

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Thank you