17. During 20x4, a parent sold inventory priced at P1,000,000 to its subsidiary, and the parent's profits on these sales amounted to P50,000. All inventory sold by the parent to the subsidiary was sold by the subsidiary to outside customers during 20x4. Here is what the parent and subsidiary report for total sales, cost of goods sold, and ending inventory at December 31. 20x4 (for total sales between the parent and subsidiary and to outside customers): Parent's books Subsidiary's books TABLE At what amounts should the 20x4 consolidated financial statements report these three balances? Inventory Sales revenue Cost of goods sold a. P450,000 P8,500,000 P5,700,000 b. P400.000 P7,500,000 P5,700,000 c. P450,000 P7.500.000 P5,700,000 d. P400,000 P8,500,000 P6,700,000