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In 2021, Maxwell Corporation changed its method of inventory pricing from LIFO to FIFO. Ignoring taxes, net income computed on a LIFO as compared to
In 2021, Maxwell Corporation changed its method of inventory pricing from LIFO to FIFO. Ignoring taxes, net income computed on a LIFO as compared to a FIFO basis for the four years involved is: LIFO 2017 $68,200 2018 74,500 2019 2020 77,000 82,500 FIFO $73,700 78,100 81,400 84,700 Indicate the net income that would have been shown on comparative financial statements issued at 12/31/2020 for the year 2019, assuming that the company changed to FIFO method in 2020
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