At the beginning of the year, Pina Colada had an inventory of $285000. During the year, the company purchased goods costing $1020000. If Pina Colada reported ending inventory of $360000 and sales of $1840000, their cost of goods sold and gross profit rate would be 5660000 and 51.36% 5945000 and 48.64% $1180000 and 49% $945000 and 51%