Pixie Corporation sells a variety soda products and owns 80% of the stock of Sparkle Inc., which produces flavor syrups. During 20X8, Sparkle sold syrup products to Pixie for $180,000, which it had produced for $120,000. Pixie sold $150,000 of the products in 20X8 and the remainder in 20X9. In addition to the purchase in 20X8, during 20X9, Sparkle sold syrup products costing $160,000 to Pixie for $240,000, of which $90,000 were resold before year-end.

What is the cost of goods sold with regard to the inventory purchased AND resold in 20X8?

	a.	$100,000
	b.	$120,000
	c.	$60,000
	d.	$20,000