Ruby Ltd acquired 100% of the shares of Tyson Ltd. During the financial year ended 30 June 2023, Ruby sold inventory to Tyson for $48351. The inventory had cost Ruby Ltd $38386. By 30 June, 46% of the inventory had been sold outside the group. Assume a tax rate of 30%. The after-tax profit to be eliminated on consolidation on the sale of inventory would be? Answer:

Ruby Ltd acquired 100% of the shares of Tyson Ltd. During the financial year ended 30 June 2023, Ruby sold inventory to Tyson for $48351. The inventory had cost Ruby Ltd $38386. By 30 June, 46% of the inventory had been sold outside the group. Assume a tax rate of 30%. The after-tax profit to be eliminated on consolidation on the sale of inventory would be