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Use the following information to answer problems $5-4$ and $5-6($Static$)$

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Alpha Company owns $80$ percent of the voting stock of Beta Company. Alpha and Beta reported the following account information from their year$-$end separate financial records:

ItemsAlphaBetaInventory$ $95,000$$ $88,000$Sales Revenue$800,000300,000$Cost of Goods Sold$600,000180,000$

During the current year, Alpha sold inventory to Beta for $$100,000.$ As of year$-$end, Beta had resold only $60$ percent of these intra$-$entity purchases. Alpha sells inventory to Beta at the same markup it uses for all of its customers.

Problem $5-6($Static$)($LO $5-2,5-3)$

What is the total for consolidated cost of goods sold?

Multiple Choice

$$670,000$

$$690,000$

Correct

$$788,000$

$$790,000$