When Using the Gross Margin Method to Estimate Inventory, Which

Multiple Choice

When using the gross margin method to estimate inventory, which of the following is a step in the computation?

A) Add the amount goods available for sale to estimated cost of goods sold.
B) Add estimated gross margin to sales.
C) Subtract estimated cost of goods sold from the amount of goods available for sale.
D) Subtract estimated goods available for sale from beginning inventory.