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Breitenberg Company reported inventory in the 2022 year-end balance sheet, using the average cost method, as $151,000. In 2023, the company decided to change its
Breitenberg Company reported inventory in the 2022 year-end balance sheet, using the average cost method, as $151,000. In 2023, the company decided to change its inventory method to FIFO. If the company had used the FIFO method in 2022, ending inventory would have been $160,000.
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Financial Accounting
Authors: Michelle L. Hanlon, Robert P. Magee, Glenn M. Pfeiffer, Thomas R. Dyckman
6th Edition
1618533118, 978-1618533111
