QUESTION 24 Facial information is presented below Operating expenses income tax expense inforest expense Sales revenue Cost of goods sold The profit margin would be 5:20,000 7.000 3.000 150.000 00 000 0000 9.3% 34.74 16% OOOO QUESTION 25 At the beginning of the year, Uptown Athletic had an inventory of $600,000. During the year, the company purchased goods costing $2,250,000. Uptown Athletic reported ending inventory of $750,000 and sales of $3,000,000, their cost of goods sold and gross profit rate would be $1,500,000 and 70% $2,100,000 and 30% $1,500,000 and 30% $2,100,000 and 70%