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To arrive at an estimated ending inventory figure: an estimated cost of goods sold is subtracted from cost of goods available for sale.

  • To arrive at an estimated ending inventory figure:
  •  A. an estimated cost of goods sold is subtracted from cost of goods available for sale.
  •  B. beginning inventory plus purchases equals cost of goods available for sale.
  •  C. a percentage of sales is typically used as the estimated cost of goods sold.
  •  D. All of these are correct.

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