Suppose Madame, the specialty retailer, produced these records for ladies' evening gowns during the current year. View the records. Assume sales of evening gowns fotalled 131 units during the current year, and Madame uses the FIFO cost method under the perpetual inventory system to account for inventory. The income tax rate is 33%. Read the reguirements. Requirement 1. Compute Madame's cost of goods sold for evening gowns for the current year. Requirement 2. Madame is thinking of changing inventory costing methods from FIFO to weighted-average cost. is it allowed to make this change? Briefly explain. companies to change its accounting method. It is allowed if the change results in the Records