Chapter 7, Problem 7.11E

I am trying to find the accurate solution to this general accounting problem with the correct explanation.

How do you solve for the contribution margin?

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Financial Accounting

Calculate the profit margin accounting

Question: 26.3 - At the beginning of the year, Downtown Athletic had an inventory of $200,000. During the year, the company purchased goods costing $800,000. If Downtown Athletic reported ending inventory of $300,000 and sales of $1,050,000, their cost of goods sold and gross profit rate must be ..........................................

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Please explain the solution to this general accounting problem using the correct accounting principles.

Please give me answer with accounting question