To Use the Gross Profit Method to Estimate the Value

Multiple Choice

To use the gross profit method to estimate the value of the ending inventory,the company needs the following information:

A) average gross profit rate,net sales,ending inventory,and net purchases.
B) average gross profit rate,net sales,beginning inventory at cost,and net purchases at retail.
C) average gross profit rate,net sales,ending inventory at retail,and net purchases at retail.
D) average gross profit rate,net sales,beginning inventory at cost,and net purchases at cost.