Question
On December 31, 2015 Douglas Company changed its method of accounting for inventory from weighted average cost method to the FIFO method. This change caused
On December 31, 2015 Douglas Company changed its method of accounting for inventory from weighted average cost method to the FIFO method. This change caused the 2015 beginning inventory to increase by $900,000. The cumulative effect of this accounting change to be reported for the year ended 12/31/15, assuming a 40% tax rate, is
| $540,000. | ||
| $504,000. | ||
| $336,000. | ||
| $0. |
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Unclaimed Property A Reporting Process And Audit Survival Guide
Authors: Tracey L. Reid
1st Edition
0470278242, 978-0470278246
