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[Solved]: The gross profit method of inventory valuation can
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(Solved): The gross profit method of inventory valuation can be used as a substitute for the annual physical c ...


The gross profit method of inventory valuation can be used as a substitute for the annual physical count of inventory. uses markups but not markdowns. is designed to approximate inventory valuation at the lower of cost and net realizabl assumes past percentages are appropriate for the current period.



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