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The accuracy of the gross profit method of estimating inventory depends on Select answer from the options below whether the gross profit percentage on sales

The accuracy of the gross profit method of estimating inventory depends on Select answer from the options below

whether the gross profit percentage on sales is higher than the markup percentage.

the appropriateness of the gross profit percentage that is used.

whether the markup percentage is higher than the gross profit percentage on sales.

the appropriateness of the mark-up percentage that is used

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