ABC Company Is Holding Goods with a Selling Price of $110,000

ABC Company is holding goods with a selling price of $110,000 which cost them $70,000. On December 3, 2019, ABC sold the goods to Timmons under a bill-and-hold arrangement. At the end of 2019 ABC still holds the goods. Assume ABC meets the four conditions necessary under a bill-and-hold arrangement to claim it has transferred control to the buyer. How much revenue should ABC recognize for 2019?

A) $110,000
B) $70,000
C) $40,000
D) $0