Question
Talbert Inc., which uses a periodic system, changed from the weighted average cost formula to the FIFO cost formula in 2020. The increase in the
Talbert Inc., which uses a periodic system, changed from the weighted average cost formula to the FIFO cost formula in 2020. The increase in the prior year's income before tax as a result of this change is $237,300. The tax rate is 30%. What is the journal entry?
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International Accounting
Authors: Timothy Doupnik, Mark Finn, Giorgio Gotti, Hector Perera
5th edition
1259747980, 9781259747984, 1260466531, 978-1260466539
