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Gentry Inc. acquired 100% of Gaspard Farms on January 5, 2017.During 2017, Gentry sold Gaspard Farms $625,000 of goods, which had cost $425,000. Gaspard Farms
Gentry Inc. acquired 100% of Gaspard Farms on January 5, 2017.During 2017, Gentry sold Gaspard Farms $625,000 of goods, which had cost $425,000. Gaspard Farms still owned 12% of the goods at the end of the year.In 2018, Gentry sold goods with a cost of $800,000 to Gaspard Farms for $1,000,000, and Gaspard Farms still owned 10% of the goods at year-end.For 2018, the cost of goods sold totaled $5,400,000 for Gentry, and $1,200,000 for Gaspard Farms.What was consolidated cost of goods sold for 2018?
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- $6,600,000.
- $6,604,000.
- $5,620,000.
- $5,596,000.
- $5,625,000.
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