Gentry Inc

question 99

Multiple Choice

Gentry Inc. acquired 100% of Gaspard Farms on January 5, 2010. During 2010, 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 2011, 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 2011, 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 2011?

• 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:

Personally Involved

Being actively engaged or deeply interested in a particular activity, project, or cause on a personal level.

Creating Vision

The process of defining a clear and inspiring long-term goal or direction for an individual, team, or organization.

Motivating People

The process of encouraging or stimulating individuals to act in a way that achieves desired outcomes, often involving incentives or inspirational leadership.

Empowering Others

The act of delegating authority and fostering self-reliance in individuals or groups to enhance their confidence and capability to make decisions.