33.Which statement is NOT true about the gross profit method of inventory estimation?   a. It may be used to estimate inventories for interim financial statements. b. It may be used to estimate inventories for year-end/annual financial statements c. It may be used by auditors. d. It may be used to estimate inventory pilferages.

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A:

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Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.