Question

Parkette, Inc.. acquired a 60 percent interest in Skybox Company several years ago. During 2014, Skybox sold inventory costing $188,000 to Parkette for $235,000. A total of 13 percent of this inventory was not sold to outsiders until 2015. During 2015. Skybox sold inventory costing $225, 320 to Parkette for $262,000. A total of 30 percent of this inventory was not sold to outsiders until 2016. In 2015, Parkette reported cost of goods sold of $577, 500 while Skybox reported $365,000. What is the consolidated cost of goods sold in 2015? $947, 394. $670, 180. $675, 606. $685, 394.