problem 10-80

Compute the net income that is reported in the 201 Appel Inc. reported the 2017 2018 2019 s 45,000 $ 50,000 $ 35,000 1(50,000) (35000) (40000) 58 00 me following information under the average cost method. Average Cost Beginning Inventory Eriding Inventory... Cost of goods sold $ 40.000 380,000 400,000 440 450,000 $445,000 $395,000 $395,000 1, Appel Inc. decided to change its method in accounting for inventory to the FIFO methol piled the following information for ending inventory under the FIFO method. 2016. 2017. 2018 $50,000 60,000 42,000 2019 2020 48,000 65,00