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Skysong Company began operations on January 1, 2018, and uses the average-cost method of pricing inventory. Management is contemplating a change in inventory methods for
Skysong Company began operations on January 1, 2018, and uses the average-cost method of pricing inventory. Management is contemplating a change in inventory methods for 2021. The following information is available for the years 20182020. ONLY B
Net Income Computed Using | ||||||
---|---|---|---|---|---|---|
Average-Cost Method | FIFO Method | LIFO Method | ||||
2018 | $15,980 | $19,140 | $12,070 | |||
2019 | 18,090 | 21,090 | 14,040 | |||
2020 | 20,130 | 24,990 | 16,940 |
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