To: High Steppers, Incorporated Erin Whitehead, Controller Edward Stevens, Staff Accountant May 1, 20X6 Valuation of Inventory Per your request, I have reviewed the records and documents in order to estimate the ending inventory on April 5, 20X6. Below are my findings. In order to determine the ending inventory on the date of the flood, an estimate for cost of goods sold in this situation, I discovered that GAAP only allows the inventory valuation method normally used by the company for interim financial statements or to determine the value of inventory that is destroyed. Using this method, the recomputed estimate for the cost of goods sold is $325,875 as of April 5. Choose an option Based on the reconstructed cost of goods sold, I have computed that High Steppers, Incorporated should report an estimated ending inventory of $66,386 on its interim financial statements dated April 5, 20X6. Choose an option Choose an option According to the accounting records, the estimated number of units destroyed or damaged b