A company that has operated with a 30% average gross profitrate for a number of years had $100,000 in sales the first quarterof this year. If it began the quarter with $18,000 in inventory atcost a A company that has operated with a \( 30 \% \) average gross profit rate for a number of years had \( \$ 100,000 \) in sales the first quarter of this year. If it began the quarter with \( \$ 18,000 \ 2 answers