QUESTION 2 which is true stout the gross profit method of inventory valuation? It may be used to state inventories for interim statements to the need for physical inventories Whend on ling price will always be more than the related percentage based on cost. may be used to estimate inventories for annual statements QUESTION 20 her Companyats Product A for $35 per unt. The cost of one unit of Product Als $12, and the replacement in $31. The estimated cost to distribute a unit is 56, and the 40% of the price. At what wount per unit should product A be reported applying lower-of-cost-or market? hint ont mainable valur selling price minus estimated cont to distribute 515 QUESTION 27 The flowing information is able for October for Shawna Company