At the beginning of the year, Uptown Athletic had aninventory of $400,000. During the year, the comp

At the beginning of the year, Uptown Athletic had aninventory of $400,000. During the year, the company purchased goodscosting $1,500,000. If Uptown Athletic reported ending inventory of$600,000 and sales of $2,000,000, their cost of goods sold andgross profit rate would be
 
A.$900,000 and 65%
B.$900,000 and 35%
C.$1,300,000 and 35%
D.$1,300,000 and 65%

 

Looking for a Similar Assignment? Hire our Top Uk Tutors while you enjoy your free time! All papers are written from scratch and are 100% Original. Try us today! Active Discount Code FREE15