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Sandhill Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May. (a) Your

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Sandhill Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May. (a) Your answerisincorrect. Compute the estimated imventory at May 31 . assuming that the gross profit is 2.5% of nat aales. The estimatso invertoryat May 31 s

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