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Nolata Company began operations on January 1 , 2 0 2 3 . In the second quarter of 2 0 2 4 , it adopted

Nolata Company began operations on January 1,2023. In the second quarter of 2024, it adopted the FIFO method of inventory valuation. In the past, it used the LIFO method. The company's interim income statements as originally reported under the LIFO method follow:
\table[[Accounts,,,,,2024],[Sales,\table[[1st Quarter],[$ 34,000]],\table[[2nd Quarter],[$ 36,000]],\table[[3rd Quarter],[$38.000
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