Question 11 1 pts On 1 June 2020, parent entity Chewy Ltd sold inventory to subsidiary entity Gum Ltd for $90,000. The mark-up on sale was 20%. By 30 June 2020, 80% of the inventory had been sold to external customers for $100,000. The remaining inventory was sold during the year ending 30 June 2021. What consolidation adjusting entries, if any, would be required on 30 June 2020 for this intra-group transaction? No consolidation entries are required as all the profit has become realized Dr Sales $90,000: Cr COGS $87,000; Cr Inventory $3,000 Dr Sales $100,000; Cr COGS $80,000; Cr Inventory $20,000 O Dr Retained Earnings $3,000; Cr COGS $3,000