On January 1, 2020, Pride, Inc. acquired 70% of the outstanding voting common stock of Strong Corp. for $350,000. There is no active market for Strongs stock. Of this payment, $28,000 was allocated to equipment (with a five-year life) that had been undervalued on Strong's books by $35,000. Any remaining excess was attributable to goodwill, which has not been impaired. As of December 31, 2020, before preparing the consolidated worksheet, the financial statements appeared as follows: Pride, Inc. Strong Corp. Revenues $ 420,000 $ 280,000 Cost of goods sold (198,000 ) (114,000 ) Operating expenses (30,000 ) (12,000 ) Net income $ 192,000 $ 154,000 Retained earnings, 1/1/20 $ 420,000 $ 210,000 Net income (above) 196,000 154,000 Dividends paid 0 0 Retained earnings, 12/31/20 $ 616,000 $ 364,000 Cash and receivables $ 294,000 $ 126,000 Inventory 210,000 154,000 Investment in Strong Corp 364,000 0 Equipment (net) 616,000 420,000 Total assets $ 1,484,000 $ 700,000 Liabilities $ 588,000 $ 196,000 Common stock 280,000 140,000 Retained earnings, 12/31/20 (above) 616,000 364,000 Total

liabilities and stockholders equity $ 1,484,000 $ 700,000 During 2020, Pride bought inventory for $112,000 and sold it to Strong for $140,000. Only half of the inventory purchase price had been remitted to Pride by Strong at year-end. As of December 31, 2020, 40% of these goods remained in the company's possession. What is the total of consolidated cost of goods sold at December 31, 2020? Select one: