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On 1 January 20X1, Tyler Trading Corp. was incorporated by Jim Tyler, who owned all the common shares. His originat investment was $200,000. Inventory transactions
On 1 January 20X1, Tyler Trading Corp. was incorporated by Jim Tyler, who owned all the common shares. His originat investment was $200,000. Inventory transactions over the subsequent three years were as follows: Required: 1. Calculate accounting income, based on transactions, for 201,202, and 203. Assume FIFO. 2. Calculate economic income, based on events or changes in value, for 201,202, and 203, (Enter negative values with minus sign.)
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