Wilson Ltd acquired its 100% interest in Yossie Ltd on 1 July 2018 for $1,068,000. At the date of acquisition, the share capital and reserves of Yossie Ltd was as follows:

Share Capital $600 000

Retained Earnings $375 000

$975 000

At the date of acquisition, 1 July 2018, all assets were fairly stated in the accounts of Yossie Ltd.

During the year ending 30 June 2020, Yossie Ltd sold $156 000 in inventory to Wilson Ltd. The closing inventory in Wilson Ltd as at 30 June 2020 includes inventory acquired from Yossie Ltd at a cost of $100 800. This cost Yossie Ltd $78 000 to produce.

The opening inventory in Wilson Ltd as at 1 July 2019 included inventory acquired from Yossie Ltd for $126 000 which had cost Yossie Ltd $105 000 to produce.

Both Wilson Ltd and Yossie Ltd adopt the perpetual method of accounting for inventory.

Required

Prepare all consolidation worksheet general journal entries as required for the year ending 30 June 2020. Show all workings.