there is a substantial increase in inventory during the year. there is no beginning inventory because it is the first year of operation. none of...

B. there is a substantial increase in inventory during the year. C. there is no beginning inventory because it is the first year of operation. D. none of these. Which statement is not true about the gross profit method of inventory valuation? A. It may be used to estimate inventories for interim statements. B. It may be used to estimate inventories for annual statements. C. It may be used by auditors. D. None of these.