$9.$ A subsidiary sells merchandise to its parent at a markup of $30\%$ on cost$.$ In the current year, the parent paid $$1,170,000$ for merchandise received from the subsidiary. By year$-$end, the parent has sold $$975,000$ of the merchandise to outside customers for $$1,200,000,$ but still holds the other $$195,000$ in its ending inventory. The parent did not have any merchandise purchased from the subsidiary in its beginning inventory. Which statement is true concerning how the above information is reported on the consolidated financial statements for the current year?

Select one:

a$.$ Consolidated sales should be $$1,170,000.$

b$.$ The consolidated ending inventory balance should be $$195,000.$

c$.$ Consolidated cost of goods sold should be $$975,000.$

d$.$ Consolidated cost of goods sold should be $$750,000.$