Pattern Company owns an 80% interest in Swatch Company. During 2011, Swatch sells merchandise to Pattern for $150 at a profit of $30.

Pattern Company owns an 80% interest in Swatch Company. During 2011, Swatch sells merchandise to Pattern for $150 at a profit of $30. During 2011, Pattern Company resells 70% of the merchandise for $175. Income statements for Pattern and Swatch are summarized below:

                        Pattern       Swatch

Sales              $175             $150

COGS            (105)           (120)

Gross Profit  $70              $30

Consolidated cost of goods sold for 2011 are?

 Consolidated sales for 2011 are?

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