On January 1 2020 Pail Corporation acquired 75 percent of Sand Company common stock for 525 000 cash. The fair value of the noncontrolling interest at the date was determined to be 175 000.

At the date of the business combination, the book values of Sands net assets and liabilities approximated fair value expect for depreciable plant assets, which were over valued by 4500 and Inventory which was undervalued by 9000 The remaining useful life of the plant assets was set to 10 years.

For the year ended December 31 2020 Pail reported Cost of Goods Sold of 11 000 on its general ledger. Sand reported Cost of Goods Sold of 8000 0n its general ledger.

What amount cost of goods sold should be reported on the 12/31/20 consolidated income statement