Question
Macintosh Inc. changed from LIFO to the FIFO inventory costing method on January 1, 2013. Inventory values at the end of each year since the
Macintosh Inc. changed from LIFO to the FIFO inventory costing method on January 1, 2013. Inventory values at the end of each year since the inception of the company are as follows: 2011 FIFO= $200,000. LIFO = $180,000 2012 FIFO= $400,000. LIFO= $360,000
Ignoring income tax considerations, prepare the entry to report this accounting change.
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Information Technology Security Audit Guidebook NIST SP 800-171
Authors: Mark A Russo CISSP-ISSAP CISO
1st Edition
1726674908, 978-1726674904
