Business, 12.03.2020 05:00 jadenp23

A subsidiary sells merchandise to its parent at a markup of 25% on cost. In the current year, the parent had $75,000 in merchandise purchased from the subsidiary in its beginning inventory. During the current year, the parent paid $750,000 for merchandise from the subsidiary. By year-end, the parent has sold $700,000 of merchandise purchased from the subsidiary to outside customers for $900,000.1. What is consolidated sales revenue for the year?a. $ 900,000b. $1,650,000c. $1,500,000d. $ 750,0002. What is consolidated cost of goods sold for the year?a. $ 900,000b. $1,300,000c. $ 560,000d. $ 750,0003.What is consolidated inventory at year-end?a. $125,000b. $100,000c. $ 25,000d. $200,000

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A subsidiary sells merchandise to its parent at a markup of 25% on cost. In the current year, the pa...

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