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Parkette, Inc., acquired a 60 percent interest in Skybox Company several years ago. During 2017, Skybox sold inventory costing $115,500 to Parkette for $165,000. A
Parkette, Inc., acquired a 60 percent interest in Skybox Company several years ago. During 2017, Skybox sold inventory costing $115,500 to Parkette for $165,000. A total of 19 percent of this inventory was not sold to outsiders until 2018. During 2018, Skybox sold inventory costing $273,750 to Parkette for $365,000. A total of 32 percent of this inventory was not sold to outsiders until 2019. In 2018, Parkette reported cost of goods sold of $540,000 while Skybox reported $330,000. What is the consolidated cost of goods sold in 2018? Multiple Choice O $485,205. O $524,795. O $546,750. O $889,795
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