Question: Use the same information as in problem (5) except assume that the transfers were from Bottom Company to Top Company. What are the consolidated sales

Use the same information as in problem (5) except assume that the transfers were from Bottom Company to Top Company. What are the consolidated sales and cost of goods sold?

a. $1,000,000 and $720,000
b. $1,000,000 and $755,000
c. $1,000,000 and $696,000
d. $970,000 and $712,000

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