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What was consolidated cost of goods sold

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Question - Webb Co. acquired 100% of Rand Inc. on January 5, 20011. During 2011, Webb sold goods to Rand for $2,400,000 that cost Webb $1,800,000. Rand still owned 40% of the goods at the end of the year. Cost of goods sold was $10,800,000 for Webb and $6,400,000 for Rand. What was consolidated cost of goods sold?

A. $17,200,000.

B. $15,040,000.

C. $14,800,000.

D. $16,960,000.

E. $14,560,000.

Reference no: EM131788312

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