Parent Corporation Owns 90 Percent of Subsidiary 1 Company's Stock

question 19

Multiple Choice

Parent Corporation owns 90 percent of Subsidiary 1 Company's stock and 75 percent of Subsidiary 2 Company's stock.During 2008,Parent sold inventory purchased in 2007 for $48,000 to Subsidiary 1 for $60,000.Subsidiary 1 then sold the inventory at its cost of $60,000 to Subsidiary 2.Prior to December 31,2008,Subsidiary 2 sold $45,000 of inventory to a nonaffiliate for $67,000 and held $15,000 in inventory at December 31,2008.
-Based on the information given above,what amount should be reported in the 2008 consolidated income statement as cost of goods sold?

• A)$36,000
• B)$12,000
• C)$48,000
• D)$45,000

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Post-Colonial Theorists

Scholars who analyze and critique the cultural legacies of colonialism and imperialism, focusing on the human consequences of the control and exploitation of colonized people and their lands.

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Sociologists who view society as a complex system of interdependent parts that work together to ensure stability and harmony.

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A theoretical framework that studies the role of culture in shaping societies, behaviors, and consciousness, including the ways culture is developed, maintained, and transformed.