Top Company holds 90 percent of Bottom Company's common stock. In the current year, Top reports sales of $878,000 and cost of goods sold of $658,500. For this same period, Bottom has sales of $323,000 and cost of goods sold of $242,250. During the current year, Bottom sold merchandise to Top for $164,000. The parent still possesses 30 percent of this inventory at the current year-end. Bottom had established the transfer price based on its normal gross profit rate. What are the consolidated sales and cost of goods sold? Multiple Choice $1,037,000 and $749,050. $1,037,000 and $785,950. $1,037,000 and $753,150. $1,004,700 and $913,050