In January 1 20*8 Parent Company acquired 90 percent ownership of Subsidiary Corporation , at underlying book value . The fair value of the noncontrolling interest at the date of acquisition was equal to 10 percent of the book value of Subsidiary Corporation . On Mar 17 20*8 , Subsidiary purchased inventory from Parent for 890 000 . Subsidiary sold the entire inventory to an unaffiliated company for $120 000 on November 21 , 20X Parent had produced the inventory sold to Subsidiary for $62 000 . The companies had no other transactions during 208 8 9 . Based on the information given above , what amount of sales will be reported in the 20*8 consolidated income statement ? A . $62 000 B . $120.000 $90 000 $58000