Acme's gross profit ratio increased by 20% over the prior year. Net sales and cost of goods sold for the prior year were $120,000 $90,000, respectively. Cost of goods sold for the current year is $140,000. Required: Determine the amount of Acme's sales for the current year. $ 176,000 X Inventory Costing Methods Oppenheimer Inc. reported the following information for the month of May: Inventory, May 1 Purchase: 67 units @ $26 May 7 48 units @ $27 May 18 60 units @ $28 May 27 44 units @ $29 During May, Oppenheimer sold 139 units. The company uses a periodic inventory system. Required: What is the value of ending inventory and cost of goods sold for May under the following assumptions