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Use the following information for Problems 4-6: Alpha Company owns 80 percent of the voting...

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Accounting

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Use the following information for Problems 4-6: Alpha Company owns 80 percent of the voting stock of Beta Company. Alpha and Beta reported the following account information from their year-end separate financial records: During the current year, Alpha sold inventory to Beta for $100,000. As of year-end, Beta had resold only 60 percent of these intra-entity purchases. Alpha sells inventory to Beta at the same markup it uses for all of its customers. 4. What is the total for consolidated sales revenue? a. $800,000 b. $970,000 c. $1,000,000 d. $1,100,000 5. What is the total for consolidated inventory? a. $143,000 b. $173,000 c. $175,000 d. $183,000 6. What is the total for consolidated cost of goods sold? a. $670,000 b. $690,000 c. $788,000

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