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What is the consolidated cost of goods sold

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Problem - Parkette, Inc., acquired a 60 percent interest in Skybox Company several years ago. During 2020, Skybox sold inventory costing $191,250 to Parkette for $255,000. A total of 18 percent of this inventory was not sold to outsiders until 2021. During 2021, Skybox sold inventory costing $198,000 to Parkette for $247,500. A total of 35 percent of this inventory was not sold to outsiders until 2022. In 2021, Parkette reported cost of goods sold of $500,000 while Skybox reported $452,500. What is the consolidated cost of goods sold in 2021?

Reference no: EM132930175

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