31. panel corp own 75% of the voting ordinary shares of saturated corp acquired at book value during 2021. selected information from the accounts of pan and sat for 2022 are as follows

P corp S Corp

Sales P900,000 P500,000

Cost of sales 490,000 190,000

During 2022 panel sold merchandise to saturated for 50,000 at the gross profit of 24,000. half of this merchandise remained in saturated corps inventory at December 31 2022. saturated corpse december 31 2021 inventories included unrealized profit of 4,000 on goods acquired from pan .determine the consolidated cost of sales