Business, 25.11.2021 05:40 panpanriser76

Macintosh Inc. changed from LIFO to the FIFO inventory costing method on January 1, 2021. Inventory values at the end of each year since the inception of the company are as follows: FIFOLIFO 2019$204,000 $182,000 2020 408,000 364,000 Required: Ignoring income tax considerations, prepare the entry to report this accounting change.

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Macintosh Inc. changed from LIFO to the FIFO inventory costing method on January 1, 2021. Inventory...

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