Tamarisk, Inc. reported net sales of $247,000, cost of goods sold of $148,200, operating expenses of $61,400, net income of $39,520, beginning total assets of $461,700, and ending total assets of $562,400. Calculate profit margin and gross profit rate. (Round answers to 1 decimal place, e.g. 10.2\%.) Profit margin % Gross profit rate % Ivanhoe Luggage uses a periodic inventory system and has the following account balances: Compute each of the following: Assume that Cullumber Company uses a periodic inventory system and has these account balances: Purchases $630,000; Purchase Returns and Allowances $25,200; Purchases Discounts $11,700; and Freight-In $19,900; beginning inventory of $42,700; ending inventory of $55,700, and net sales of $750,000. Determine the amounts to be reported for cost of goods sold and gross profit. Cost of goods sold $ Gross profit $