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please answer Star Corp. owns 85% of the common stock of Ship, Inc. In the current year, Star reports sales of $782,500 and cost of

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Star Corp. owns 85% of the common stock of Ship, Inc. In the current year, Star reports sales of $782,500 and cost of goods sold of $547,750. For the same period, Ship has sales of $324,000 and cost of goods sold of $243,000. During the year, Star sold merchandise to Ship for $75,000 at a price based on the normal margin. At the end of the year, Ship still possesses 16 percent of this inventory. a] Compute consolidated sales [2 points] b] Compute consolidated cost of goods sold [3 points] c} Assume the same information, except Ship sold inventory to Star. Compute consolidated cost of goods sold [4 points]

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