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I'm not sure about the answer Top Company holds 90 percent of Bottom Company's common stock. In the current year. Top reports sales of $1,050,000

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Top Company holds 90 percent of Bottom Company's common stock. In the current year. Top reports sales of $1,050,000 and cost of goods sold of $840,000. For this same period, Bottom has sales of $550,000 and cost of goods sold of $350,000. During the current year, Top sold merchandise to Bottom for $350,000. The subsidiary still possesses 40 percent of this inventory at the current year-end. Top had established the transfer price based on its normal gross prot rate. What are the consolidated sales and cost of goods sold? Multiple Choice 0 $1,195,000 and $896,000. . $1,250,000 and $868,000. 0 $1,250,000 and $1,036,000. 0 $1,250,000 and $896,000

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