Ute Co. had the following transactions with its 90% owned subsidiary (Cougar) during 20X1: Purchases of inventory materials totaling $755,000 from Cougar Corp. Cougars gross profit on the sale was 45%. Ute had $90,000 of this inventory remaining on December 31, 20X1. Before consolidating entries, Ute had consolidated inventory of $905,000.

What is the total inventory value that will be reflected on Ute Consolidate Financial Statement at December 31st, 20X1

Group of answer choices

$905,000

$945,500

$864,500

$778,500