Parker corporation owns 80 percent of smith inc.’s common stock. during 20x1, parker sold inventory to smith for $250,000 on the same terms as sales made to third parties. smith sold all of the inventory purchased from parker in 20x1. the following information pertains to smith’s and parker’s sales for 20x1: :

parker:
sales $ 1,000,000
cost of sales 400,000
total $ 600,000

smith:
sales $ 700,000
cost of sales $ 350,000
total $ 350,000

what amount should parker report as cost of sales in its year 20x1 consolidated income statement?

(a) $750,000
(b) $680,000
(c) $500,000
(d) $430,000

3,500 beverages

explanation:

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.