please show steps on how to solve it

Required Information [The following information applies to the questions displayed below.] On January 1. Jarel acquired 80 percent of the outstanding voting stock of Suarez for $260,000 cash consideration. The remaining 20 percent of Suarez had an acquisition-date fair value of $65.000. On January 1, Suarez possessed equipment (five-year remaining life) that was undervalued on its books by $25,000. Suarez also had developed several secret formulas that Jarel assessed at $50,000. These formulas, although not recorded on Suarez's financial records, were estimated to have a 20-year future life. As of December 31, the financial statements appeared as follows: Jarel $ 300,800) 140,000 20,000 $ (140,000) 00, 880) (148, 999) Revenues Cost of goods sold Expenses Net income Retained earnings, 1/1 Net income Dividends declared Retained earnings, 12/31 Cash and receivables Inventory Investment in Suarez Equipment (net) Total assets Liabilities Common stock Retained earnings, 12/31 Total liabilities and equities Suarez $(200,000) 86,800 10,000 $(110, 000) $(158,000) (110, 800) 0 $(260,000) $ 99,989 118,888 $ (448,000) 5 210,999 150,000 268,000 440,000 $ 1,960, see (420,000) (208,980) (448, ea $(1,860,800) 300,000 $ 500,000 $(149, 989) (190,000 (260, Bee) $(500,000) Included in the preceding statements, Jarel sold inventory costing $80,000 to Suarez for $100,000. Of these goods, Suarez still owns 60 percent on December 31. What is the total of consolidated cost of goods sold? Multiple Choice $145,000 $140.000 $152.000