Question 1 - Bellgrade, Inc., acquired a 60 percent interest in Hansen Company several years ago. During 2012, Hansen sold inventory costing $90,200 to Bellgrade for $110,000. A total of 12 percent of this inventory was not sold to outsiders until 2013. During 2013, Hansen sold inventory costing $294,800 to Bellgrade for $335,000. A total of 29 percent of this inventory was not sold to outsiders until 2014. In 2013, Bellgrade reported cost of goods sold of $527,500 while Hansen reported $422,500. What is the consolidated cost of goods sold in 2013?
$624,282.
$635,400.
$959,282.
$605,718.

Question 2 - Top Company holds 90 percent of Bottom Company's common stock. In the current year, Top reports sales of $862,000 and cost of goods sold of $646,500. For this same period, Bottom has sales of $363,000 and cost of goods sold of $235,950. During the current year, Bottom sold merchandise to Top for $110,000. The parent still possesses 30 percent of this inventory at the current year-end. Bottom had established the transfer price based on its normal markup. What are the consolidated sales and cost of goods sold?
$1,115,000 and $805,450.
$1,078,700 and $894,000.
$1,115,000 and $783,450.
$1,115,000 and $784,000.

Question 3 - Top Company holds 90 percent of Bottom Company's common stock. In the current year, Top reports sales of 990,000 and cost of goods sold of $544,500. For this same period, Bottom has sales of $490,000 and cost of goods sold of $294,000 . During the current year, Top sold merchandise to Bottom for $290,000 . The subsidiary still possesses 50 percent of this inventory at the current year-end. Top had established the transfer price based on its normal markup. What are the consolidated sales and cost of goods sold?
$1,190,000 and $824,000
$1,190,000 and $679,000
$1,141,000 and $621,000
$1,190,000 and $613,750