Alex Company owns 80 percent of the common stock of Cairo Company. During the year, Alex sold merchandise that cost $9,000 to Cairo for $15,000. At the end of the year, Cairo 's ending inventory included merchandise that was purchased from Alex for $3,000. What entry is required to eliminate the effect of ending inventory in the consolidation worksheet at the end of the year? COGS Credit $3,000 Beginning Inventory Credit $1,200 Ending Inventory Debit $3,000 Sales Debit $15,000