Cullen Company has a normal markup of 40% its cost-to-sales ratio is 71.4% 67.5% 60% Cannot be calculated. Grey Industries had beginning inventory of $ 10,000 and purchased $ 75,000 during 2017. The company had sales of $90,000 and has traditionally had a cost-to-sales ratio of 75%. Using the gross margin estimation method, the company estimates its ending inventory to be $ 67, 500 $ 65,000 $17, 500 $22, 500 Best Beauties Ltd. had a fire at its warehouse and was trying to determine the cost o! the inventory lost. For the year to date, sales had been $525,000, opening inventory was $25,000. purchases to date were $198,000, the cost-to-sales ratio is normally 60% inventory not damaged in the fire was $18,000. What was the cost of the inventory damaged in the fire? $110,000 $ 124,000 $ 160,000 $74,000 In 2017 Borger Inc. had beginning inventory of $106,000, purchase of $1, 126, 500 ending inventory of $116,000, accounts payable of $49, 605, and sales of $2, 147, 250, Inventory turnover for 2017 was closest to 9.625 10.06 10.15 10.53