Under a periodic inventory system, if inventory at the start of the period is... Under a periodic inventory system, if inventory at the start of the period is $15 000, purchases for the period are $73 000 and inventory at the end of the period, as per a physical stocktake is $20 000, what is the estimated cost of sales? Select one: O a. $53000 b. $68 000 c. $108 000 O d. $88 000 The formula for calculating the gross profit ratio is: The formula for calculating the gross profit ratio is: Select one: O a. Gross profit /sales O b. Gross profit after tax/sales O c. Cost of sales/sales O d. Sales/gross profit 4 caloclacc nroi . Goods held for sale by a retailer in the normal course of business are known as: Goods held for sale by a retailer in the normal course of business are known as: Select one: O a. Stock, inventory, stock-in-trade O b. Merchandise, inventory O c. Stock, inventory work-in-process O d. Inventory, stock, raw materials