The Gross Profit Method Is a Way to Estimate the Cost

question 93

True/False

The gross profit method is a way to estimate the cost of ending inventory without a physical count.

---

Definitions:

Legal Proceeding

A formal process governed by law, including trials and hearings, in which legal judgments and decisions are made.

Legal Parents

Individuals who have legal authority and responsibility for a child, which can arise through biological relationship, adoption, or legal designation.

Adoption

A procedure in which persons become the legal parents of a child who is not their biological child.

Approved By A Judge

Officially sanctioned or authorized by a judge or court official.