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When Preparing Its Quarterly Financial Statements, Patterson Co

Question 95

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When preparing its quarterly financial statements, Patterson Co. uses the gross margin method to estimate ending inventory. The following information is available for the 1st quarter of 2013: When preparing its quarterly financial statements, Patterson Co. uses the gross margin method to estimate ending inventory. The following information is available for the 1<sup>st</sup> quarter of 2013: What was Patterson's estimated inventory on March 31, 2013? A) $412,500 B) $577,500 C) $472,500 D) $517,500 What was Patterson's estimated inventory on March 31, 2013?


A) $412,500
B) $577,500
C) $472,500
D) $517,500

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