On January 1, 2018 Pat Co. acquired 90% ownership of Salam Co. During the year the parent sold inventory that cost $60,000 to Subsidiary for $80,000. Subsidiary sold the entire inventory to an unaffiliated company for $100,000 on November 21, 2018. The companies had no other transactions during 2018. What amount of cost of goods sold will be reported in the 2018 consolidated income statement? O a. $60,000 O b. $100,000 O c. $40,000 O d. $80,000