(Answered) Problemparent ltd own all of the issued shares of

Accounting

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Parent Ltd own all of the issued shares of Subsidiary Ltd. During the current year, Parent sold inventory to Subsidiary Ltd for $4166. That inventory had cost Parent $3000. Subsidiary Ltd has sold 60% of that inventory to outside entities during the current year for $8000. The tax rate is 30%.

What is the unrealised profit in inventory at the end of the current year?

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