6. P Corporation owns 85% of S Company. In 2016, P sold inventory costing P120,000 to S Company for P160,000. S Company did not sell any of this inventory to unrelated parties before the end of 2016. In 2017, P Company sold inventory costing P200,000 to S Company for P260,000. Also in 2017, S Company sold to unrelated entities all the inventory purchased in 2016 and 70% of the inventory purchased in 2017 . What is the adjustment to cost of goods sold in the 2017 elimination worksheet? a. P282,000 credit b. P282,000 debit c. P82,000 credit d. P82,000 debit