A

Admin • 833.24K Points
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Q. Which method is used to estimate closing inventory in the absence of physical stock count?

  • (A) FIFO Method
  • (B) LIFO Method
  • (C) Gross Profit Method
  • (D) Weighted Average Method
  • Correct Answer - Option(C)
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  • Filed under category Accounting
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Explanation by: Admin

The Gross Profit Method is an estimation technique used when physical count isn't done.

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