The gross profit method can be used a. to estimate the amount of inventory destroyed in a

Question:

The gross profit method can be used

a. to estimate the amount of inventory destroyed in a flood when the periodic system is used.

b. to estimate the amount of inventory on hand at an interim date, such as the end of a quarter.

c. to estimate the amount of inventory on hand at the end of the year.

d. both

(a) and (b).

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