At the beginning of the year, Bramble had an inventory of $375000. During the year, the company purchased goods costing $1040000. If Bramble reported ending inventory of $340000 and sales of $1700000, their cost of goods sold and gross profit rate would be $700000 and 63.24% $1075000 and 36.76% $1000000 and 37%. $1075000 and 63%