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Change from FIFO to Average Cost Koopman Company began operations on January 1, 2015, and uses the FIFO inventory method for financial reporting and the
Change from FIFO to Average Cost Koopman Company began operations on January 1, 2015, and uses the FIFO inventory method for financial reporting and the average cost inventory method for income taxes. At the be- ginning of 2017, Koopman decided to switch to the average cost inventory method for financial reporting. It had previously reported the following financial statement information for 2016
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