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During 2020, a parent 'sold' inventory priced at $8000 to its subsidiary. The parent's cost of these goods was $4000. During the year, the subsidiary
During 2020, a parent 'sold' inventory priced at $8000 to its subsidiary. The parent's cost of these goods was $4000. During the year, the subsidiary sold 70% of that inventory to outside customers for $10000. What amount should be reported in the 2020 consolidated income statement for COST OF GOODS SOLD? BE SURE TO TYPE A SIMPLE NUMBER WITH NO COMMAS OR DOLLAR SIGNS. FOR EXAMPLE, TYPE 1000 INSTEAD OF $1,000
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