Which Statement Is Correct

question 107

Multiple Choice

Which statement is correct?

• A)The retail inventory method estimates ending inventory cost using wholesale prices and an average gross margin.
• B)The retail inventory method estimates cost of goods sold using the inventory cost flow equation.
• C)The gross margin method estimates ending inventory cost using retail prices and an average gross margin.
• D)The gross margin method estimates cost of goods sold using the inventory cost flow equation.

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