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At the beginning of the year, Wildcat Athletic had an inventory of $300000. During the year, the company purchased goods costing $1200000. If Wildcat Athletic reported ending inventory of $450000 and sales of $1500000, their cost of goods sold and gross profit rate would be

/in /by

At the beginning of the year, Wildcat Athletic had an inventory of

$300000. During the year, the company purchased goods costing $1200000. If Wildcat Athletic reported ending inventory of $450000 and sales of $1500000, their cost of goods sold and gross profit rate would be

a)$1050000 and 70%.

b)$750000 and 30%.

c)$750000 and 70%

d)$1050000 and 30%.

 
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