On January 1, 2018, the merchandise inventory of Glaus, Inc. was $1,200,000. During 2018 Glaus purchased $2,400,000 of merchandise and recorded sales of $3,000,000. The gross profit rate on these sales was 25%. What is the cost of goods sold for Glaus at December 31,2018? $750,000 $2,250,000 $1,350,000 $600,000