View Policies Current Attempt in Progress Which of the following is not an assumption made when using the gross profit method? O Goods not sold must be on hand. The cost ratio is computed after markups (and markup cancellations) but before markdowns. O Sales, reduced to cost deducted from the sum of the opening inventory plus purchases equals ending inventory. The beginning inventory plus purchases equal total goods to be accounted for. Save for Later Attempts: 0 of 1 used Submit