The company begins the year with inventory of $36,900 and ends the year with inventory of $24,800. During the year, the following amounts are recorded: Sales Sales returns & allowances Sales discounts Purchases Operating expenses $874,000 8,000 14,000 498,600 298,200 18. S Net Sales 19. S Calculate cost of goods sold 20. S Gross profit 21. Gross profit ratio (rounded to one decimal place)