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Fraizer, Inc. acquired 100% of Eaton Enterprises on January 2, 2016. During 2016, Fraizer sold Eaton for $525,000 goods which had cost $375,000. Eaton still
Fraizer, Inc. acquired 100% of Eaton Enterprises on January 2, 2016. During 2016, Fraizer sold
Eaton for $525,000 goods which had cost $375,000. Eaton still owned 20% of the goods at the end of the year. In 2017, Fraizer sold goods with a cost of $670,000 to Eaton for $850,000, and the buyer still owned 25% of the goods at year-end. For 2017, cost of goods sold was $5,160,000 for Fraizer and $930,000 for Eaton.
What was consolidated cost of goods sold for 2017?
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