At the Beginning of the Year, Wildcat Athletic Had an Inventory

Multiple Choice

At the beginning of the year, Wildcat Athletic had an inventory of $300,000.During the year, the company purchased goods costing $1,200,000.If Wildcat Athletic reported ending inventory of $450,000 and sales of $1,500,000, their cost of goods sold and gross profit rate would be

A) $750,000 and 70%
B) $1,050,000 and 30%.
C) $750,000 and 30%.
D) $1,050,000 and 70%.