P owns 100% of S. At Day 1, Year 1, there were no items from intercompany sales in either company’s inventory. In Year 1, P sold goods to S for $1,000,000 that cost Small $800,000. P still owned 100,000 (10%) of these goods at December 31, year 1. Cost of goods sold was $6,000,000 for P and $3,000,000 for S. What was consolidated cost of goods sold?

		$9,000,000.
		$8,000,000
		$7,980,000.
		$8.020,000.