Tokyo Corporation decided to switch from the FIFO method to the weighted average cost method to determine cost of goods sold and ending inventory Indicate how this change is reported on the Tokyo Corporation financial statements for the current period ...

The change in accounting policy would be ...

Tokyo Corporation decided to switch from the FIFO method to the weighted average cost method to determine

Question:

Tokyo decided to switch from the FIFO method to the weighted average cost method to determine cost of goods sold and . Indicate how this change is reported on the Tokyo for the current period.
Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =... Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...