Problem
On 1 October 2021, Maix Ltd sold inventory for $75,000 to IKASIUAX Ltd at cost plus 25%. On 30 June 2022, IKASIUAX Ltd sold two-thirds of the inventory to other entities for $25,000 but still holds one-third of these inventories as of 30 June 2022.
• Prepare the journal entries for Intragroup's above transaction.