Ending balances for Britney & Co selected accounts are presented below: Sales $300,000 Beginning inventory 80,000 Ending inventory 50,000 Britney & Co's gross margin is 20%. What amount represents Britney & Co's purchases? Using the gross profit method calculate Cost of Goods Sold and Purchases for the period. A. What is the cost of Goods Sold? B. What is the Purchases value for the period