Accounting MCQ Inventory Valuation of LCNRV & LCM Method True or False: The gross profit method for estimating inventory may not be used if the inventory or its records have been destroyed.

True or False: The gross profit method for estimating inventory may not be used if the inventory or its records have been destroyed.

Naim 22:50 Inventory Valuation of LCNRV & LCM Method

True or False: The gross profit method for estimating inventory may not be used if the inventory or its records have been destroyed.

Answer: False

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