What is the consolidated cost of goods sold

Reference no: EM131956072

Problem

Parkette, Inc., acquired a 60 percent interest in Skybox Company several years ago. During 2014, Skybox sold inventory costing $197,750 to Parkette for $282,500. A total of 20 percent of this inventory was not sold to outsiders until 2015. During 2015, Skybox sold inventory costing $146,250 to Parkette for $195,000. A total of 32 percent of this inventory was not sold to outsiders until 2016. In 2015, Parkette reported cost of goods sold of $575,000 while Skybox reported $320,000. What is the consolidated cost of goods sold in 2015?

Reference no: EM131956072

Questions Cloud

How might offices physically change in the coming years : Given the growth in telecommuting and other mobile work arrangements, how might offices physically change in the coming years?

How is working at an online retailer different from working : Paul Saffo, director of the Institute for the Future, noted, "Telecommuting is a reality for many today, and will continue to be more so in the future.

Find the payback period for the project : Christopher Electronics bought new machinery for $5,045,000 million. This is expected to result in additional cash flows of $1,205,000 million over the next.

The explosion of information-driven self-serve options : Will this put a burden on the elderly or the poor when corporations begin charging for face-to-face services?

What is the consolidated cost of goods sold : Parkette, Inc., acquired a 60 percent interest in Skybox Company several years ago. What is the consolidated cost of goods sold in 2015?

What amount should report as a loss on sale of receivables : Cinder Corp factored, with recourse, $150,000 of accounts receivable with Greedy Financing. The finance charge is 3%, and 5.5% was retained to cover sales.

What is the magnification of the image : The object is then moved to 16.7 cm from the lens. What is the magnification of the image when it is moved there? Include a negative sign if inverted.

Explain the aspects of andersens use of the gps-based system : What are the positive and negative aspects of Andersen's use of the GPS-based system to monitor his drivers and salespeople?

Prepare the entry for the security sale on january : Parnevik Company has the following securities in its investment portfolio on December 31, 2017. Prepare the entry for the security sale on January 15, 2018.

User Account

All Pages