What amount will be reported as consolidated cost of goods sold? Pollman (parent) Shells (Subsidiary). Sales $1,500,000 $500,000 Cost of Goods Sold 750,000 200,000 Operating Expenses 550,000 200,000 $200,000 $100,000 Net Income Inventory 12/31/X1 $120,000 $60,000 Pollman owns 80% of Shells' common stocks. Pollman sold $200,000 of goods to Shells. Of the goods sold $60,000 were not sold on 12/31/X1. Pollman has a uniform margin on all of its sales. Shells has a uniform margin on all of its sales