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Parkette, Inc., acquired a 60 percent interest in Skybox Company several years ago. During 2017, Skybox sold inventory costing $75,000 to Parkette for $100,000. A
Parkette, Inc., acquired a 60 percent interest in Skybox Company several years ago. During 2017, Skybox sold inventory costing $75,000 to Parkette for $100,000. A total of 16 percent of this inventory was not sold to outsiders until 2018. During 2018, Skybox sold inventory costing $96,000 to Parkette for $120,000. A total of 35 percent of this inventory was not sold to outsiders until 2019. In 2018, Parkette reported cost of goods sold of $380,000 while Skybox reported $210,000. What is the consolidated cost of goods sold in 2018? Multiple Choice $522,400. 0 $473,440. $474,400. 0 0 $465,600
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