In this paper, a new construction method of quaternary sequences of even period 2N having the ideal autocorrelation and balance properties is proposed. These quaternary sequences are constructed by applying the inverse Gray mapping to binary sequences of odd period N with the ideal autocorrelation. Autocorrelation distribution of the proposed quaternary sequences is derived. These sequences can be used to construct quaternary sequence families of even period 2N. Family size and the maximum absolute value of correlation spectrum of the proposed quaternary sequence families are also derived.