Gentry Inc

question 27

Multiple Choice

Gentry Inc. acquired 100% of Gaspard Farms on January 5, 2012. During 2012, Gentry sold Gaspard Farms for $625,000 goods which had cost $425,000. Gaspard Farms still owned 12% of the goods at the end of the year. In 2013, Gentry sold goods with a cost of $800,000 to Gaspard Farms for $1,000,000, and Gaspard Farms still owned 10% of the goods at year-end. For 2013, cost of goods sold was $5,400,000 for Gentry and $1,200,000 for Gaspard Farms. What was consolidated cost of goods sold for 2013?

• A) $6,600,000.
• B) $6,604,000.
• C) $5,620,000.
• D) $5,596,000.
• E) $5,625,000.

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Definitions:

Primary Tastes

The basic categories of taste that the human tongue can identify, including sweet, salty, sour, bitter, and umami.

Taste Buds

Small sensory organs found on the tongue, capable of detecting the five basic tastes: sweet, sour, bitter, salty, and umami.

Phantom Limb Phenomenon

The sensory perception that a missing limb or organ is still present and occasionally capable of movement and feeling.

Amputated

The surgical removal of a body part, typically a limb or digit, due to injury, disease, or medical condition.