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2 5 pts . Cotton Company has the following balance sheets and retained earnings statements prepared using FIFO: Cotton changed from FIFO to LIFO on
pts Cotton Company has the following balance sheets and retained earnings statements prepared using FIFO: Cotton changed from FIFO to LIFO on January December inventory at LIFO is $ while December inventory at LIFO is $ Inventory at January was zero. a Prepare the income and retained earnings statements in the format above assuming will be shown alone and without comparison to prior years.
pts Cotton Company has the following balance sheets and retained earnings statements prepared using FIFO:
Cotton changed from FIFO to LIFO on January December inventory at LIFO is $ while December inventory at LIFO is $ Inventory at January was zero.
a Prepare the income and retained earnings statements in the format above assuming will be shown alone and without comparison to prior years.
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