On January 1, 2022, Bryce Inc. changed from the LIFO method of inventory pricing to the FIFO

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On January 1, 2022, Bryce 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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Financial Accounting Tools for Business Decision Making

ISBN: 978-1119493631

9th edition

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

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Question Posted: Jul 12, 2019 01:31 PM

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On January 1, 2022, Bryce Inc. changed from the LIFO method of inventory pricing to the FIFO

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