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  3. during 2020, a parent 'sold' inventory priced at $

During 2020, a parent 'sold' inventory priced at $11500 to its subsidiary. The parent's cost...

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Accounting

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During 2020, a parent 'sold' inventory priced at $11500 to its subsidiary. The parent's cost of these goods was $8500. During the year, the subsidiary sold 90% of that inventory to outside customers for $28000. What amount should be reported in the 2020 consolidated income statement for COST OF GOODS SOLD

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