The following information relates to questions 20 to 22
Aussie Ltd has a controlling interest in Pommie Plc. On 1 June 20X5 Pommie sold inventory to Aussie for 10 000 pounds. The inventory was originally acquired by Pommie on 18 May 20X5 for 7000 pounds. The entire amount of inventory was held by Aussie at 30 June 20X5. The Australian tax rate is 30% and the British tax rate is 35%.
Exchange rates are as follows:
-The credit to inventory in relation to the elimination of the intragroup sale (to the nearest whole dollar) is:
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