Question: Estimating ending inventory using the gross profit method is appropriate for all of the following EXCEPT: Preparing annual financial statements. Preparing quarterly financial statements. Estimating

Estimating ending inventory using the gross profit method is appropriate for all of the following EXCEPT:
Preparing annual financial statements.
Preparing quarterly financial statements.
Estimating inventory lost in a natural disaster.
Estimating inventory for budgeting purposes.
Estimating ending inventory using the gross

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