On January 1, 2010, Robins Inc. changed from the LIFO method of inventory pricing to the FIFO

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On January 1, 2010, Robins Inc. changed from the LIFO method of inventory pricing to the FIFO method. Explain how this change in accounting principle should be treated in the company’s financial statements.

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Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Apr 21, 2012 04:27 AM

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On January 1, 2010, Robins Inc. changed from the LIFO method of inventory pricing to the FIFO

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