Top Company holds 90 percent of Bottom Companys common stock. In the current year, Top reports sales of $800,000 and cost of goods sold of $600,000. For this same period, Bottom has sales of $300,000 and cost of goods sold of $180,000. During the current year, Top sold merchandise to Bottom for $100,000. The subsidiary still possesses 40 percent of this inventory at the current year end. Top had established the transfer price based on its normal markup. What are the consolidated sales and cost of goods sold? - This is a 2 part question of which I need the second part answered which says 'Use the same information, except assume that the transfers were from Bottom Company to Top Company. What are the consolidated sales and cost of goods sold. a) $1m and $690k b)$1m and 755k c) $1m and 696k d)$970k and 712k (Please provide conceptual explanation of answer and not just the computation or