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Part A: Marks owns 100% of Spencer. Before consolidation, Marks reports sales of...

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Accounting

Part A:
Marks owns 100% of Spencer. Before consolidation, Marks reports sales of 15,000,000 and COGS of 12,500,000. Spencer reports sales of $5,000,000 and COGS of $4,500,000
During the current year, Spencer sells inventory for $550,000(10% above cost) to Marks. At year-end, Marks has half of this inventory remaining.
Part B:
Fancy owns 100% of Feast. Before consolidation, Fancy reports sales of $110,000,000 and COGS of $50,000,000. Feast reports sales of $20,000,000 and COGS of $12,000,000
During the current year, Fancy sells inventory costing $2,000,000 to Feast for $3,000,000. At year end, Feast has resold all but $100,000 of this inventory.
Please answer the following for both Part A and Part B: these two parts are independent of each other!
What is the consolidated sales number for the year
What is the consolidated COGS number for the year
Is there an adjustment to consolidated inventory at year-end, and if so, how much?
Will there be any adjustments on the parent's stand-alone books related to this transaction for income from sub? If so, how much?

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