Real South Products holds $400,000 worth of inventory on January 1. Between January and March 13, Real South purchased an additional $190,000 in inventory. During that period, sales of $530,000 were made. On March 13, Real Souths warehouse flooded and all but $15,000 worth of inventory was ruined. Historical records show that Real South has an average gross profit percentage of 25 percent. The cost of goods sold was what percent of sales revenue?

1. 25%

2. 75%

3. 33%

4. 50%