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Flounder Company began operations on January 1, 2018, and uses the average-cost method of pricing inventory. Management is contemplating a change in inventory methods for

Flounder Company began operations on January 1, 2018, and uses the average-cost method of pricing inventory. Management is contemplating a change in inventory methods for 2021. The following information is available for the years 20182020.

Net Income Computed Using

Average-Cost Method

FIFO Method

LIFO Method

2018

$15,900 $19,170 $12,110

2019

17,880 20,980 13,990

2020

20,180 25,060 17,120

(b) Determine net income to be reported for 2018, 2019, and 2020, after giving effect to the change in accounting principle.

Net Income

2018

$Enter a dollar amount

2019

$Enter a dollar amount

2020

$Enter a dollar amount

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