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Ramco, Inc., changed from the average-cost to the FIFO cost flow assumption in 2016. The increase in the prior year's income before taxes is C600,000.

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Ramco, Inc., changed from the average-cost to the FIFO cost flow assumption in 2016. The increase in the prior year's income before taxes is C600,000. The tax rate is 20%. What is the amount of retained earnings if Ramco prepare journal entry in 2016 to record the ?change in accounting policy 480,000 A 320,000.00 600,000.co 120,000.00

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