DFS/Inter-company adjustments in consolidated statements

sorcha

Treatment of inter-company transactions on consolidation: I think I've got a bit lost on the way - thank you for answering, please keep answer simple - for a simple brain!

In the consolidated balance sheet:
Any inter-company unrealised profit:
Dr seller's retained earnings
Cr buyer's inventories

and/?or if all sold
Cr sellers trade receivables
Dr buyers trade payables

In the consolidated income statement:
Any inter-company unrealised profit:

Dr Gross profit (via?)
Cr Closing Inventories
and selling price:
Dr Revenues
Cr Purchases

Thank you