A subsidiary sold some inventories to its parent for $70 000. The goods had originally cost the subsidiary $50 000. At the end of the year all of the inventories were still on hand. The consolidation adjustment entry to eliminate this transaction will include the following line items?

Select one:

Dr Cost of sales $50 000

Dr Inventory $50 000

Cr Cost of sales $50 000

Cr Inventory $50 000