Question: The gross profit method and retail inventory method provide a way to estimate ending inventory. Discuss the main difference between the two estimation techniques. Provide

The gross profit method and retail inventory method provide a way to estimate ending inventory. Discuss the main difference between the two estimation techniques. Provide an opinion on what method is better and how the selected method affects a firms financial statements.

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Both the gross profit method and the retail inventory method provide a way to estimate ending inventory. What is the main difference between the two estimation techniques?

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