Perth Corporation owns 90 percent of Dundee Company's stock. At the end of 20X8, Perth and Dundee

Question:

Perth owns 90 percent of Dundee Company's stock. At the end of 20X8, Perth and Dundee reported the following partial operating results and inventory balances: Perth regularly prices its products at cost plus a 30 percent markup for profit. Dundee prices its sales at cost plus a 10 percent markup. The total sales reported by Perth and Dundee include both intercompany sales and sales to nonaffiliated. Based on the information given above, what amount of sales will be reported in the for 20X8?
$500,000
$850,000
$600,000
$800,000
Consolidated Income Statement
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