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Gentry Inc. purchased 100% of Gaspard Farms on January 5, 2005. During 2005, Gentry sold...

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Accounting

Gentry Inc. purchased 100% of Gaspard Farms on January 5, 2005. During 2005, Gentry sold to Gaspard Farms for $650,000 goods which had cost $200,000. Gaspard Farms still owned 15% of the goods at the end of the year. In 2006, Gentry sold goods with a cost of $800,000 to Gaspard Farms for $1,000,000, and Gaspard Farms still owned 20% of the goods at year-end. For 2006, cost of goods sold was $1,200,000 for Gaspard Farms and $5,400,000 for Gentry. What was consolidated cost of goods sold for 2006?

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