6. In 2014, the company decided to change its method of inventory
pricing from average-cost to the FIFO method. The effect of this
change on prior years is to increase 2012 income by $65,000 and
increase 2013 income by
$20,000
Instructions Katherine Irving has come to you, as her CPA, for advice
about the situations above. Prepare a report, indicating the appropriate
accounting treatment that should be given for each of these
situations.
Create a 16- to 24-slide presentation in which you respond to the
following Discussion Question from the text:
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