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23 June, 17:35

Q 9.37: when should the gross profit method of inventory valuation not be used because it is invalid?

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  1. 23 June, 17:45
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    At the end of given period the gross profit method is required to estimate inventory. The valuation become invalid when the following are not available. the value for the beginning of inventory, records of purchase made, the total sale during the period and the gross profit margin.
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