The accountants for Ruiz Imports need to estimate the ending inventory balance so that they can prepare quarterly financial statements.The accountants have gathered the following information:
Required: Use the gross profit method to estimate the ending inventory.

Question

The accountants for Ruiz Imports need to estimate the ending inventory balance so that they can prepare quarterly financial statements.The accountants have gathered the following information:
  Required: Use the gross profit method to estimate the ending inventory.

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The Answer of The accountants for Ruiz Imports need to estimate the ending inventory balance so that they can prepare quarterly financial statements.The accountants have gathered the following information:
  Required: Use the gross profit method to estimate the ending inventory.

The Accountants for Ruiz Imports Need to Estimate the Ending