The gross profit ratio is useful to the manager for each of the following purposes except that: a. it can be used to determine the selling price to set for an item. b. it can be used to estimate the amount of inventory lost in a fire. c. it can be used to determine the amount available from a given amount of revenue to cover operating expenses. d. it can be used to estimate the amount of operating expenses for a period. I had thought it was "D" but then I started second guessing myself