The working paper elimination on the date of the Parent Corporation and subsidiary Company on 31/12/2019 date of business combination included Inventories (first-in, first-out cost)Subsidiary $50,000, under equity method, the working paper eliminations, in journal entry format for Parent Corporation and its subsidiary on 31/12/2020 includes:

a.

Debit to inventories $50,000.

b.

Debit to cost of goods sold $50,000.

c.

Credit to inventories $50,000.

d.

Credit cost of goods sold $50,000.