During the current year, park corp. recorded $355,000 of sales of inventory to small co., its wholly-owned subsidiary, on the same terms as sales made to third parties. at december 31, small held one-fifth of these goods in its inventory. the following information pertains to park's and small's sales for the year: park small
sales $2,000,000 $1,400,000 cost of goods sold 627,000 700,000 in its consolidated income statement, what amount should park report as cost of goods sold?