Ending inventory can be estimated by subtracting the estimated cost of goods available for sale from the Cost of Goods Sold.

Name: Ending inventory can be estimated by subtracting the estimated cost of goods available for sale from the Cost of Goods Sold.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Ending inventory is not estimated by subtracting the estimated cost of goods available for sale from the Cost of Goods Sold. Rather, it is determined by taking a physical count of remaining inventory at the end of the accounting period.

Ending Inventory Can Be Estimated by Subtracting the Estimated Cost