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The estimate cost method is not one of the three basic methods to calculate the value of inventory.
The estimate cost method is not one of the three basic methods to calculate the value of inventory. The three basic methods are average cost method, first-in, first-out method (FIFO), and last-in, first-out method (LIFO). The estimate cost method is not commonly used in inventory valuation as it involves estimation rather than actual cost data.
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