The gross profit method of estimating inventory would NOT be useful when
a. a periodic system is in use and inventories are required for interim statements.
b. there is a significant change in the mix of products being sold.
c. inventories have been destroyed or lost by fire, theft, or other casualty, and the specific data required for inventory valuation are not available.
d. the relationship between gross profit and sales remains stable over time.
B
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