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A company reported inventory in the 2 0 2 3 year - end balance sheet, using the average cost method, as $ 3 4 2

A company reported inventory in the

2023

year

-

end balance sheet, using the average cost method, as $

342, 000 .

2024,

the company decided to change its inventory method to FIFO. If the company had used the FIFO method in

2023,

ending inventory would have been $

367, 000 .

What adjustment would the company make for this change in inventory method?

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