Top Company holds 90 percent of Bottom Company's common stock. In the current year, Top reports sales of $880,000 and cost of goods sold of $660,000. For this same period, Bottom has sales of $372,000 and cost of goods sold of $279,000. During the current year, Bottom sold merchandise to Top for $146,000. The parent still possesses 40 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 $1,106,000 and $807,600. $1,068,800 and $953,600. $1,106,000 and $851,400. $1,106,000 and $812,470