4.At the beginning of the year, Wildcat Athletic had an inventory of $200,000. During the year, the company purchased goods costing $800,000. If Wildcat Athletic reported ending inventory of $300,000 and sales of $1,050,000, their cost of goods sold and gross profit rate would be
(A)$500,000 and 52.4%
(B) $700,000 and 33.3%
(C) $500,000 and 33.3%
(D)$700,000 and 66.7%