# 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

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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