Asked by moses munyai on Jun 16, 2024
Verified
Two widely used methods of estimating inventories are the ______________ method and the _____________ method.
Estimating Inventories
The process of approximating the quantity and value of inventory a business has on hand.
Gross Profit Method
A technique to estimate inventory cost by using the gross profit margin, often used when physical inventory counts are impractical.
- Outline and assess the components and mathematical procedures in inventory regulation.
Verified Answer
SS
Learning Objectives
- Outline and assess the components and mathematical procedures in inventory regulation.