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In 2025, Sandhill Corporation changed its method of inventory pricing from LIFO to FIFO. Net income computed on a LIFO as compared to a
In 2025, Sandhill Corporation changed its method of inventory pricing from LIFO to FIFO. Net income computed on a LIFO as compared to a FIFO basis for the four years involved is: (Ignore income taxes.) LIFO FIFO 2022 $79,000 $87,600 2023 84,700 88,100 2024 86,100 90,600 2025 92,800 92,000 (a) Indicate the net income that would be shown on comparative financial statements issued at 12/31/25 for each of the four years, assuming that the company changed to the FIFO method in 2025. 2022 2023 2024 2025 59 $ $ tA $ 694 $ Net Income
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