The Dwarf Corporation is maintaining a branch in Cebu. During the year, the home office shipped goods to the branch at a cost of 120,000. The branch submitted to the home office the following report summarising its operations for the period ended December 31, 2016.Sales (30% on account), 196,000; Expenses (50% of which is still unpaid), 50,000; Purchases, 25,000; Shipments from Home Office, 150,000; Inventory beg (30% from outsiders), 30,000; Inventory end (40% from Home Office), 90,000; remittance to Home Office, 60,000. What is the cost of sales in so far as the home office is concerned?