Question - Senior Company owns 100 percent of the outstanding shares of Junior. During the current year, Senior sold inventory costing $90,000 to Junior for $100,000. Junior has resold all of this merchandise to outside parties by the last day of the year. For the year, Senior reported cost of goods sold of $600,000 and Junior reported cost of goods sold of $500,000. What is the total amount reported on the consolidated income statement for cost of goods sold?
A) $1,000,000
B) $1,010,000
C) $1,090,000
D) $1,100,000