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Cod Incorporated acquired 100% of Swordfish Manufacturing on January 2, 2022. During 2022, Cod sold Swordfish $640,000 of goods, which had cost $450,000. Swordfish still
Cod Incorporated acquired 100% of Swordfish Manufacturing on January 2, 2022. During 2022, Cod sold Swordfish $640,000 of goods, which had cost $450,000. Swordfish still owned 18% of the goods at the end of the year. In 2023, Cod sold goods with a cost of $800,000 to Swordfish for $1,000,000, and Swordfish still owned 15% of the goods at year-end. For 2023, the cost of goods sold totaled $5,800,000 for Cod, and $1,300,000 for Swordfish. What was consolidated cost of goods sold for 2023?
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