During 2020, a parent 'sold' inventory priced at $10500 to its subsidiary. The parent's cost of these goods was $5000. During the year, the subsidiary sold 70% of that inventory to outside customers...

Extracted text: During 2020, a parent 'sold' inventory priced at $10500 to its subsidiary. The parent's cost of these goods was $5000. During the year, the subsidiary sold 70% of that inventory to outside customers for $20000. What amount should be reported in the 2020 consolidated income statement for SALES? BE SURE TO TYPE A SIMPLE NUMBER WITH NO COMMAS OR DOLLAR SIGNS. FOR EXAMPLE, TYPE 1000 INSTEAD OF $1,000. Your Answer: