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Could use help, thanks! Ine management or Bramble instrument Company had concluded, with the concurrence of its independent auditors, that results of operations would be
Could use help, thanks!
Ine management or Bramble instrument Company had concluded, with the concurrence of its independent auditors, that results of operations would be more fairly presented if Bramble changed its method of pricing inventory from last-in, frst-out (LIFO) to averagecost in 2020. Given below is the 5 -year summary of income under LIFO and a schedule of what the inventories would be if stated on the average-costmethod. Prepare comparative statements for the 5 years, assuming that Bramble chunged its method of inventery pricing to average-cout. Indicate the effects on net income and earnings per share for the years involved. Bramble fostruments started busineis in 2015 Assume that the number of shares outsanding is 100 . (Enter omounts thot decrease cost of goods sold using eicher a negative sign precedings the nimber es 15,000 or porentheser es (15,000). Round ail emounts evoept EPS to the neareit whole dollar, eg 5,275, Round Eamings Pner Share to 2 dedinai ploces, es 162 . Round up the taxeffects to the nod whole dollaed Ine management or Bramble instrument Company had concluded, with the concurrence of its independent auditors, that results of operations would be more fairly presented if Bramble changed its method of pricing inventory from last-in, frst-out (LIFO) to averagecost in 2020. Given below is the 5 -year summary of income under LIFO and a schedule of what the inventories would be if stated on the average-costmethod. Prepare comparative statements for the 5 years, assuming that Bramble chunged its method of inventery pricing to average-cout. Indicate the effects on net income and earnings per share for the years involved. Bramble fostruments started busineis in 2015 Assume that the number of shares outsanding is 100 . (Enter omounts thot decrease cost of goods sold using eicher a negative sign precedings the nimber es 15,000 or porentheser es (15,000). Round ail emounts evoept EPS to the neareit whole dollar, eg 5,275, Round Eamings Pner Share to 2 dedinai ploces, es 162 . Round up the taxeffects to the nod whole dollaed Step by Step Solution
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