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Blossom Company began operations on January 1 , 2 0 2 3 , and uses the FIFO method in costing its raw material inventory. Management
Blossom Company began operations on January and uses the FIFO method in costing its raw material inventory. Management is contemplating a change to the LIFO method and is interested in determining what effect such a change will have on net income. Accordingly, the following information has been developed: Based upon the above information ignore income tax considerations a change to the LIFO method in would result in net income for of $ $ $ $ 
Blossom Company began operations on January and uses the FIFO method in costing its raw material inventory. Management
is contemplating a change to the LIFO method and is interested in determining what effect such a change will have on net income.
Accordingly, the following information has been developed:
Based upon the above information ignore income tax considerations a change to the LIFO method in would result in net
income for of
$
$
$
$
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
