This is a question

Pitt Ltd and Upper Ltd are two separate legal entities within an economic entity. Pitt Ltd sells inventories to Upper Ltd during the financial year ended 30 June 2027. At 30 June 2027 50 per cent of this inventory remained unsold. The inventories were held by Pitt Ltd at a value of $45 000 and were sold with an 80 per cent mark-up to Upper Ltd. By 30 June 2028 all of this inventory is sold to external parties by Upper Ltd.

Required:

What is the consolidation adjustment for this inventory now i.e., at 30 June 2028, when it is sold

to external parties by Upper Ltd? Assume no tax.