In November 2020, a parent entity sold inventory to a subsidiary entity for $60,000. The inventory had previously cost the parent entity $48,000. The entire inventory is still held by the subsidiary at reporting date, 31 December 2020. The perpetual inventory system is used. Which of the following is the adjustment entry in the consolidation worksheet at reporting date? a. Cost of sales Dr 60 000 Sales revenue Cr 12 000 Inventory Cr 48 000 b. Sales revenue Dr 48 000 Cash Cr 48 000 Inventory Dr 48 000 Cost of sales Cr 48 000 c. Sales revenue Dr 60 000 Cost of sales Cr 60 000 Cost of sales Dr 12 000 Inventory Cr 12 000 d. Cash Dr 48 000 Sales revenue Cr 48 000 Cost of sales Dr 48 000 Inventory Cr 48 000