BY Inc., begins the year with inventory of $36,500 and ends the year with inventory of $45,100. During the year, the following amounts are recorded: Sales Sales returns & allowances Sales discounts Purchases Operating expenses $978,500 14,100 12,400 515,000 214,300 18. $_ _Net Sales 19. $ _Calculate cost of goods sold 20. $ Gross profit 21. % Gross profit ratio (rounded to once decimal place)