Webb co. acquired 100 of rand inc. on jan 5 2011. during, Ask an Expert

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Webb Co. acquired 100% of Rand Inc. on Jan 5, 2011. During 2011, Webb sold goods to Rand for $2,400,000 that cost Webb $1,800,000. Rand still owned 40% of the goods at the end of the year. Cost of goods sold was $10,800,000 for Webb and $6,400,000 for Rand. What was consolidated cost of goods sold?

A. $15,040,000

B. $14,560,000

C. $17,200,000

D. $16,960,000

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Accounting Basics, Accounting

Category:- Accounting Basics
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