Which of the following is not required to apply the gross margin method?
A)Total sales for the current period
B)The amount of inventory on hand at the end of the current period
C)Amount of purchases during the current period
D)The beginning inventory for the current period

Question

Quizplus · Accepted Answer

The gross margin method is used when ending inventory amount at the end of the current period is not available.The beginning inventory balance,sales,and purchases for the current period are required to use this method to estimate the amount of inventory on hand.

Which of the Following Is Not Required to Apply the Gross