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Question 14 of 16 View Policies Current Attempt in Progress At the beginning of the year, Meng Company had an inventory of 500.000. During the year, the company purchased goods costing 2.000,000. If Meng Company reported ending inventory of 600,000 and sales of 2,500,000, the company's cost of goods sold and gross profit rate must be 1,250.000 and 24% 1,900,000 and 24% 1,250,000 and 50% 1,900.000 and 76%. e Textbook and Media Save for Later Attempts: 0 of 3 used Submit