Question: Estimating Inventory Loss Using Gross Profit Method concerning inventory reveal the following. Gross profit averaged 35% of net sales. Required a. Calculate the estimated loss

Estimating Inventory Loss Using Gross Profit Method concerning inventory reveal the

Estimating Inventory Loss Using Gross Profit Method concerning inventory reveal the following. Gross profit averaged 35% of net sales. Required a. Calculate the estimated loss of inventory using the gross profit method. $ b. Assume instead that the markup is 25% of cost. Estimate the loss of inventory using the gross profit method. s

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