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When Preparing Its Quarterly Financial Statements, Pace Company Uses the Gross

Question 17

Multiple Choice

When preparing its quarterly financial statements, Pace Company uses the gross margin method to estimate ending inventory. The following information is available for the quarter ending March 31, Year 2: When preparing its quarterly financial statements, Pace Company uses the gross margin method to estimate ending inventory. The following information is available for the quarter ending March 31, Year 2: What is the estimated amount of inventory that is on hand on March 31, Year 2? A) $236,250 B) $288,750 C) $206,250 D) $258,750 What is the estimated amount of inventory that is on hand on March 31, Year 2?


A) $236,250
B) $288,750
C) $206,250
D) $258,750

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