A company had net sales of $769,700 and the cost of goods sold of $529,000. Its net income was $24,400. The company's gross margin ratio equals (round the final answer to the nearest 3 decimal places, i.e. 26.72% would be .267 or .24555 would be .246): Question 5 2 pts A company purchases merchandise for $633,000. The seller also offers credit terms of 2/10, n/30. Assuming no returns were made, and that payment was made within the discount period, what is the net cost of the merchandise?