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Instructions In 2 0 2 0 , Frost Company, which began operations in 2 0 1 8 , decided to change from LIFO to FIFO
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In Frost Company, which began operations in decided to change from LIFO to FIFO because management believed that FIFO better represented the flow of their inventory. Management prepared the following analysis showing the effect of this change:
tableEnding Inventory,LIFO,FIFO,Cumulative Difference$$$
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