The Reported Sales Did Not Include Any Intra-Entity Sales

question 37

Multiple Choice

The reported sales did not include any intra-entity sales. In addition to the reported amounts, there were intra-entity sales from Pot to Skillet in the amount of $140,000. There were no sales from Skillet to Pot. Intra-entity sales had the same markup as sales to outsiders. Skillet still had 40% of the intra-entity sales as inventory at the end of 2011. What are consolidated sales and cost of goods sold for 2011?

• A) $1,400,000 and $1,071,000.
• 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:

Morality of Justice

A concept focusing on the application of fairness, based on rights and laws, in the analysis and resolution of moral conflicts.

Morality of Care

An ethical perspective emphasizing empathy and caring for others, contrasting with justice-based morality focused on rights and rules.

Carol Gilligan

An American feminist, ethicist, and psychologist known for her work on moral development, especially in relation to ethical relationships and feminist ethics.

Early Maturation

The process of reaching physical and sexual development earlier than what is considered typical for one's age group.