QUESTION 19 Parent Co. acquired 70% of Sub Co. on January 1, 2020. During 2020. Parent made several sales of inventory to Sub. The cost and selling price of the goods were $800,000 and $560,000, respectively. Sub still owned one fourth of the goods at the end of 2020. Consolidated cost of goods sold for 2020 was 58,560,000 because of a consolidating adjustment for intra-entity sales less the entire profit remaining in Sub's ending inventory. How would consolidated cost of goods sold have differed if the inventory transfers had been for the same amount and cost, but from Sub to Parent? Consolidated cost of goods sold would have remained $8,560,000. O Consolidated cost of goods sold would have been more than 58,560,000 because of the controlling interest in the subsidiary O Consolidated cost of goods sold would have been less than 58,560,000 because of the non-controlling interest in the subsidiary The effect on consolidated cost of goods sold cannot be predicted from the information provided. Consolidated cost of goods sold would have been more than 58,560,000 because of the non-controlling interest in the subsidiary