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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