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Explain What Information Is Needed in Order to Estimate a Company's

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Essay

Explain what information is needed in order to estimate a company's ending inventory cost using the gross profit method.Why would a company need to estimate inventory?


Definitions:

Ossicles

Small bones; specifically, one of the bones of the tympanic cavity or middle ear.

Membrane

A selective barrier; it allows some things to pass through but stops others. Such membranes can be biological or synthetic.

Iris

The colored part of the eye surrounding the pupil that controls the amount of light entering the eye.

Opening

An aperture or gap that allows access, passage, or a view through something.

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