Multiple Choice
Which of the following statements is true of the gross margin method of estimating the dollar amount of ending inventory?
A) It is helpful in estimating inventory when a fire burns the warehouse
B) It uses the current gross margin percentage in its calculation
C) It is a method of estimating ending inventory that can be used only in retail firms
D) All of these statements are true
Correct Answer:
Verified
Correct Answer:
Verified
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