Push Company owns 60% of Shove Company's outstanding common stock. Intra-entity sales are as follows:

Year	inventory cost	transfer price	inventory remaing at year end (at transfer price)
2011	80,000	100000	30000
2012	110000	130000	26000

Assume Shove sold the inventory to Push. Using the fully adjusted equity method, what journal entry would be recorded by Push to defer the unrealized gross profit on inventory sales to Shove in 20X1?

Assume Push sold the inventory to Shove. Using the fully adjusted equity method, what journal entry would be recorded by Push to defer the unrealized gross profit on inventory sales to Shove in 20X1?