Bakery owns $70$ percent of Slice Products Company's stockOn January $20$X$9$inventory reported by included $26,000$ of flour purchased from Slice at $18$ per bagBy December $31,20$X$9,$ all the beginning inventory purchased from Products been baked into products and sold to customers by There were no transactions between and Both Pie Bakery and Slice Products price their sales at cost plus $50$ percent markup for profit reported income from baking operations of $$301,000,$ and Slice reported net income of $$251,000$ for $20$X$9$ Required: Compute the amount reported as cost of goods sold in the $20$X$9$ consolidated income statement for the flour purchased from $20$X$8$ Note: Do not round intermediate calculations