Question

Parkette, Inc., acquired a 60 percent interest in Skybox Company several years ago. During 2014, Skybox sold inventory costing $160,000 to Parkette for $200,000. A total of 18 percent of this inventory was not sold to outsiders until 2015. During 2015, Skybox sold inventory costing $297,500 to Parkette for $350,000. A total of 30 percent of this inventory was not sold to outsiders until 2016. In 2015, Parkette reported cost of goods sold of $607,500 while Skybox reported $450,000. What is the consolidated cost of goods sold in 2015?
a. $698,950 .
b. $720,000 .
c. $1,066,050 .
d. $716,050 .



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  • CreatedJanuary 08, 2015
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