Planner Corporation owns 60 percent of Schedule Company's voting shares. During 20X3, Planner produced 25,000 computer desks at a cost of $82 each and sold 10,000 of themto Schedule for $94 each. Schedule sold 7,000 of the desks to unaffiliated companies for $130 each prior to December 31, 20X3, and sold the remainder in early 20X4 for $140 each. Both companies use perpetual inventory systems.

Required: a. What amounts of cost of goods sold did Planner and Schedule record in 2038? Planner Corporation _ Schedule Companyr _ b. What amount of cost of goods sold must be reported in the consolidated income statement for 20x3? {Do not round intermediate calculations.)