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The gross profit method O a. is used to calculate the company's gross profit only. Ob. may be used to estimate the cost of inventory

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The gross profit method O a. is used to calculate the company's gross profit only. Ob. may be used to estimate the cost of inventory destroyed by a natural disaster. O c. and the retail method of estimating inventory would come up with the same ending inventory amount. Od. is mostly used by department stores

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