This year, Parent Company acquired all of the common stock of SUB Company. At the end of the current year, balances of selected accounts and other information for each of the companies were as follows: SUB Parent Sales $2,000,000 $10,000,000 Sales to Parent during year 80,000 Sales to SUB during year 20,000 Gross profit on all sales 25% 30% At the end of the year, 30% of the inventory that SUB sold to Parent remained in Parents inventory. SUB had sold all of the inventory it had acquired from Parent by the end of the year. What is the amount of consolidated cost of goods sold at the end of the year? Show your calculation