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I need help finishing this questions, my subject is accounting Oriole Co. decides at the beginning of 2020 to adopt the FIFO method of inventory

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I need help finishing this questions, my subject is accounting

Oriole Co. decides at the beginning of 2020 to adopt the FIFO method of inventory valuation. Oriole had used the LIFO method for financial reporting since its inception on January 1, 2018, and had maintained records adequate to apply the FIFO method retrospectively. Oriole concluded that FIFO is the preferable inventory method because it reflects the current cost of inventory on the balance sheet. The following table presents the effects of the change in accounting principles on inventory and cost of goods sold. Income taxes are ignored. Date Inventory Determined by LIFO Method FIFO Method $0 $0 Cost of Goods Sold Determined by LIFO Method FIFO Method $0 $0 850 932 910 748 1,060 1,020 90 January 1, 2018 December 31, 2018 December 31, 2019 December 31, 2020 8 190 270 420 300 Retained earnings reported under LIFO are as follows. December 31, 2018 December 31, 2019 December 31, 2020 Retained Earnings Balance $1,040 2,020 2.850 Other information: 1. 2. For each year presented, sales are $2,800 and operating expenses are $910. Oriole provides two years of financial statements. Earnings per share information is not required. Prepare income statements under LIFO for 2018, 2019 and 2020. ORIOLE CO. Income Statement For the Year Ended December 31 LIFO 2018 2019 2020 Sales 850 Operating Expenses 910 910 910 Net Income /(Loss) $ $ 1,040 $ $ $ Prepare income statements under FIFO for 2018, 2019, and 2020. ORIOLE CO. Income Statement For the Year Ended December 31 FIFO 2018 2019 2020 Sales $ > $ 2,800 $ $ 2,800 $ 2,800 Cost of Goods Sold Operating Expenses Net Income/(Loss) $ e Textbook and Media Prepare comparative retained earnings statements for 2019 and 2020 under FIFO. 2019 2020 $ $

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