Business, 26.07.2020 14:01 gomez36495983

A newly created subsidiary sold all of its inventory to its parent at a profit in its first year of existence. The parent, in turn, sold all but 20 percent of the inventory to unaffiliated companies, recognizing a profit. The parent had no other sales during the year. The amount that should be reported as cost of goods sold in this year's consolidated income statement should be:

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A newly created subsidiary sold all of its inventory to its parent at a profit in its first year of...

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