Working Backward: Gross Profit Ratio 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 and $90,000, respectively. Cost of goods sold for the current year is $140,000. Required: petermine the amount of Acme's sales for the current year, Inventory Costing Methods Carrington Inc. reported the following information for the month of October: Inventory, October 1 68 units $26 Purchase: October 7 60 units $28 October 18 59 units $30 October 27 40 units $31 During October, Carrington sold 147 units. The company uses a periodic Inventory system. Required: