The management of Marin Instrument Compary had concluded, with the concurrence of its independent auditors, that results of

operations would be more fairly presented if Marin changed its method of pricing imentory from last$-$in$,$ first$-$cut $($LIFO$)$ to average$-$

cost in $2025.$ Given below is the $5-$year summary of income under LIFO and a schedule of what the imventories would be if stated on

the average$-$cost method.

Schedule of Inventory Balances Using Average$-$Cost Method

For the Years Ended May $31$

Prepare comparative statements for the $5$ years, assuming that Marin changed its method of imventory pricing to average$-$cost$.$

Indicate the effects on net income and earnings per share for the years imolved. Marin Instruments started business in $2020.($Enter

amounts that decrease cost of goods sold using either a negative sign preceding the number eg$.-15,000$ or parentheses e$.$g $(15,000).$ Round all

amounts except EPS to the nearest whole dollar, es $5,275.$ Round Earnings Per Share to $2$ decimal places, eg$.1\mathrm{.}62.$ Round up the tax effects to

the next whale dollar.$)$Current Attempt in Progress

The management of Marin Instrument Compary had concluded, with the concurrence of its independent auditors, that results of

operations would be more fairly presented if Marin changed its method of pricing irwentory from last$-$in$,$ first$-$out $($LIFO$)$ to average$-$

cost in $2025.$ Given below is the $5-$year summary of income under LIFO and a schedule of what the imventories would be if stated on

the average$-$cost methad.

Prepare comparative statements for the $5$ years, assuming that Marin changed its method of imentory pricing to average$-$cost$.$

Indicate the effects on net income and earnings per share for the years irwolved. Marin Instruments started business in $2020.($Enter

amounts that decrease cost of goods sold using either a negative sign precedling the number eg$.-15,000$ or parentheses e$.$g $(15,000).$ Round all

amounts ercept EPS to the nearest whole dollar, e$.$g $5,275.$ Round Earnings Per Share to $2$ decimal places, eg$.1\mathrm{.}62.$ Round up the tax effects to

the next whale dollar.The management of Marin Instrument Compary had concluded, with the concurrence of its independent auditors, that results of

operations would be more fairly presented if Marin changed its method of pricing imentory from last$-$in$,$ first$-$cut $($LIFO$)$ to average$-$

cost in $2025.$ Given below is the $5-$year summary of income under LIFO and a schedule of what the imventories would be if stated on

the average$-$cost method.

Schedule of Inventory Balances Using Average$-$Cost Method

For the Years Ended May $31$

Prepare comparative statements for the $5$ years, assuming that Marin changed its method of imventory pricing to average$-$cost$.$

Indicate the effects on net income and earnings per share for the years imolved. Marin Instruments started business in $2020.($Enter

amounts that decrease cost of goods sold using either a negative sign preceding the number eg$.-15,000$ or parentheses e$.$g $(15,000).$ Round all

amounts except EPS to the nearest whole dollar, es $5,275.$ Round Earnings Per Share to $2$ decimal places, eg$.1\mathrm{.}62.$ Round up the tax effects to

the next whale dollar.$)$