Question 1 (10 points) Pit Corporation owns 90% of Stop Company's outstanding common stock. On 08/28/21, Pit sold inventory to Stop in exchange for $650,000 cash. Pit had purchased the inventory on 05/02/21 at a cost of $520,000. On 12/21/21, Stop sold 70% of the inventory to 3rd parties at a cash price of $568,750. The other 30% of the inventory remains on hand at 12/31/21. TO ACQUIRE THE INVENTORY: PIT'S JOURNAL ENTRIES WOULD INCLUDE: A debit to Inventory and a credit to Cash in the amount of: TO 'SELL' THE INVENTORY TO STOP: A debit to Cash and a credit to Sales in the amount of: A/ A debit to Cost of Goods Sold and a credit to Inventory in the amount of: A