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-Problem 5-5 (LO 5-2,5-3) Top Company holds 90 percent of Bottom Company's common stock In the current year. Top reports sales of $810,000 and cost

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-Problem 5-5 (LO 5-2,5-3) Top Company holds 90 percent of Bottom Company's common stock In the current year. Top reports sales of $810,000 and cost of goods sold of $648,000. For this same period, Bottom has sales of $310.000 and cost of goods sold of $186.000 During the current year, Top sold merchandise to Bottom for $10,000 The subsidiary still possesses 50 percent of this inventory at the current year end. Top had established the transfer price based on its normal gross profit rate. What are the consolidated sales and cost of goods sold? $1010,000 and $801,000 51010000 and 5746.000

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