The following extracts relate to Pan and its wholly owned subsidiary Skillet:

	Pan	Skillet
Statement of Financial Performance
Revenue	1,196,000	928,000
Cost of sales	888,000	670,000
Statement of Financial Position
Inventory	168,000	36,000

During the year the following transactions took place:

• Pans sales to Skillet this year $20,000.
• 60% of these sales are still in inventory at balance date.
• Pan makes 10% profit on sales (i.e., profit = 10% of the given sales figure)..
• Profit in opening inventory on sales from Pan to Skillet in previous year $500.

The consolidated cost of sales figure is?

Select one:

a. 1,577,300

b. 1,577,300

c. 1,538,700

d. 1,558,000

e. 1,539,700

f. 1,539,200