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Ethical Issue C6-85. During 2016, Coalmont, Inc., changed to the LIO method. Suppose that during 2017, Coalmont changed back to the FIO method. In 2018,
Ethical Issue C6-85. During 2016, Coalmont, Inc., changed to the LIO method. Suppose that during 2017, Coalmont changed back to the FIO method. In 2018, the company switched back to LIFO again. Requirements 1. What would you think of a company's ethics if it changed accounting methods every year? 2. What accounting principle would changing methods every year violate? 3. Who can be harmed and how when a company changes its accounting methods too often
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