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Parkette, Inc., acquired a 60 percent interest in Skybox Company several years ago. During 2017, Skybox sold inventory costing $149,600 to Parkette for $187,000. A
Parkette, Inc., acquired a 60 percent interest in Skybox Company several years ago. During 2017, Skybox sold inventory costing $149,600 to Parkette for $187,000. A total of 15 percent of this inventory was not sold to outsiders until 2018. During 2018, Skybox sold inventory costing $208,250 to Parkette for $245,000. A total of 30 percent of this inventory was not sold to outsiders until 2019. In 2018, Parkette reported cost of goods sold of $582,500 while Skybox reported $352,500. What is the consolidated cost of goods sold in 2018?
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