Apolving the cost of Goods Sold Model Miton Company reported inventory of 5151.000 at the beginning of 2014. During the year it purchased inventory of $25,000 and solventory for $950.000. A count of inventory at the end of the year determined that the cost of inventory on hand was 560.400 Required: 1. What was Milton's cost of goods sold for 2014 2. What is Milton's gross margin for the year