How option C is correct? Please show all steps thanks

P Company regularly sells merchandise to its 80%-owned subsidiary, S Corporation. In 2016, P sold merchandise that cost $240,000 to S for $300,000. Half of this merchandise remained in S's December 31, 2016 inventory. During 2017, P sold merchandise $375,000 to S for $468,000. Forty percent of this merchandise inventory remained in S's December 31, 2017 inventory. Selected income statement information for the two affiliates for the year 2017 is as follows: Consolidated cost of goods sold for P Company and Subsidiary for 2017 are: a) $2, 260, 500. b) $2, 268,000. c) $2, 276, 700. d) $2, 737, 500