Included in the Amounts for Pot's Sales Were Pot's Sales

question 96

Multiple Choice

Included in the amounts for Pot's sales were Pot's sales of merchandise to Skillet for $140,000.There were no intra-entity transfers from Skillet to Pot.Intra-entity transfers had the same markup as sales to outsiders.Skillet still held 40% of the intra-entity gross profit remaining in ending inventory at the end of 2018.What are consolidated sales and cost of goods sold, respectively for 2018?

• A) $1,400,000 and $ 952,000.
• B) $1,400,000 and $ 966,000.
• C) $1,540,000 and $1,078,000.
• D) $1,400,000 and $1,022,000.
• E) $1,540,000 and $1,092,000.

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Definitions:

Participative Leadership

A leadership style where decisions are made with the input and involvement of team members, leading to increased involvement and engagement.

Subordinate Performance

The work output or achievements of individuals who are in positions lower in the organizational hierarchy relative to their supervisors.

Inconsistent

Lacking coherence or uniformity in actions, values, or principles, leading to unpredictability and potential confusion.

Decision Processes

The cognitive and logical steps involved in making choices among alternatives to achieve a goal.