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Business, 22.09.2021 14:00 eshaesmot12345

On December 31, 2023, Dutton Company changed its method of accounting for inventory from weighted average cost method to the FIFO method. This change caused the 2023 beginning inventory to increase by $531,000. What is the cumulative effect of this accounting change to be reported for the year ended 12/31/18, assuming a 35% tax rate?

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On December 31, 2023, Dutton Company changed its method of accounting for inventory from weighted av...
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