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Silver Corporation owns 80 percent of Billy Company's stock. At the end of 208, Silver and Billy reported the following partial operating results and inventory balances: Silver regularly prices its products at cost plus a 40 percent markup for profit. Billy prices its sales at cost plus a 20 percent markup. The total sales reported by Silver include both intercompany sales and sales to nonaffiliates. What amount of cost of goods sold will be reported in the 208 consolidated income statement? (Hint: be sure to find the COGS amount reported separately by these two companies first?)

$925.400

$805,000.

$775,800.

$830,000

Silver Corporation owns 80 percent of Billy Company's stock. At the end of 208, Silver and Billy reported the following partial operating results and inventory balances: Silver regularly prices its products at cost plus a 40 percent markup for profit. Billy prices its sales at cost plus a 20 percent markup. The total sales reported by Silver include both intercompany sales and sales to nonaffiliates. What amount of cost of goods sold will be reported in the 208 consolidated income statement? (Hint: be sure to find the COGS amount reported separately by these two companies first?) $925.400 $805,000. $775,800. $830,000

Silver Corporation owns 80 percent of Billy Company's stock. At the end of 208, Silver and Billy reported the following partial operating results and inventory balances: Silver regularly prices its products at cost plus a 40 percent markup for profit. Billy prices its sales at cost plus a 20 percent markup. The total sales reported by Silver include both intercompany sales and sales to nonaffiliates. What amount of cost of goods sold will be reported in the 208 consolidated income statement? (Hint: be sure to find the COGS amount reported separately by these two companies first?) $925.400 $805,000. $775,800. $830,000

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