Use the Following Information for Questions 15 & 16

question 14

Multiple Choice

Use the following information for Questions 15 & 16:
P Company regularly sells merchandise to its 80%-owned subsidiary, S Corporation.In 2013, P sold merchandise that cost $240,000 to S for $300,000.Half of this merchandise remained in S's December 31, 2013 inventory.During 2014, P sold merchandise that cost $375,000 to S for $468,000.Forty percent of this merchandise inventory remained in S's December 31, 2014 inventory.Selected income statement information for the two affiliates for the year 2014 is as follows:
-Consolidated cost of goods sold for P Company and Subsidiary for 2014 are:

• A)$2,260,500.
• B)$2,268,000.
• C)$2,276,700.
• D)$2,737,500.

---

Definitions:

Human Behavior

The range of behaviors exhibited by humans and which are influenced by culture, attitudes, emotions, values, ethics, authority, rapport, hypnosis, persuasion, coercion, and/or genetics.

Actively Listening

The practice of fully concentrating, understanding, responding, and then remembering what is being said in a conversation.

Reflects Back

The act of thinking deeply or carefully about past actions, decisions, or events to glean insights or lessons.

Paraphrases

Expressions or renditions of text that aim to convey the same meaning as the original but through different words and structure.