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Business, 14.04.2020 16:52 Roninsongrant
During 20X0, Pard Corp. sold goods to its 80%-owned subsidiary, Seed Corp. At December 31, 20X0, one-half of these good were included in Seed's ending inventory. Reported 20X0 selling expenses were $1,100,000 and $400,000 for Pard and Seed, respectively. Pard's selling expenses included $50,000 in freight-out costs for goods sold to Seed. What amount of selling expenses should be reported in Pard's 20X0 consolidated income statement?
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During 20X0, Pard Corp. sold goods to its 80%-owned subsidiary, Seed Corp. At December 31, 20X0, one...
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