Why would a company want to estimate its inventory ?
a)the company might physically count inventory only once a year, yet they might need to produce financial statements on a monthly basis
b) inventory is lost in a fire, and the claim for insurance requires the inventory amount lost
c)as a test of the accuracy of an actual physical inventory count
d) all of these
Answer: D
If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.