At the beginning of the year,Pronghornhad an inventory of $310000. During the year, the company purchased goods costing $1040000. IfPronghornreported ending inventory of $410000and sales of $1680000, their cost of goods sold and gross profit rate would be?

$630000and55.95%

$940000and44.05%.

$1050000and44%.

$940000and56%.