What is the total for consolidated cost of goods sold?

a. $670,000

b. $690,000

c. $788,000

d. $790,000

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:

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.

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Alpha Beta Inventory $ 95,000 $ 88,000 Sales Revenue 800,000 600,000 300,000 Cost of Goods Sold 180,000