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Current Attempt in Progress Blossom Company began operations on January 1, 2023, and uses the FIFO method in costing its raw material inventory. Management is

image text in transcribed Current Attempt in Progress Blossom Company began operations on January 1, 2023, 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 2024 would result in net income for 2024 of $685000.$625000.$745000.$705000. eTextbook and Media Attempts: 0 of 2 used

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