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On December 3 1 , 2 0 2 4 , Wildhorse Company changed its method of accounting for inventory from the average - cost -

On December 31,2024, Wildhorse Company changed its method of accounting for inventory from the average-cost-method to the FIFO method. This change caused the 2024 beginning inventory to increase by $10050000. The cumulative effect of this accounting change to be reported for the year ended 12/31/24, assuming a 20% tax rate, is

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