What would be the result of the change on ending inventory, Accounting Basics

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What would be the result of the change on ending inventory

A company decided to change its inventory valuation method from FIFO to LIFO in a period of falling prices.What would be the result of the change on ending inventory and cost of goods sold in the year of change.

Ending inventory Cost of goods sold

a. Increase Increase

b. Increase Decrease

c. Decrease Decrease

d. Decrease Increase

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Accounting Basics: What would be the result of the change on ending inventory

Reference No:- TGS0696996

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Compute the difference in cost between making and buying

Q : How is the cost of inventory calculated and

Q : Should the company make or buy the valve

Q : Discuss the furniture line and the financial benefit

Q : What would be the result of the change on ending inventory

Q : Discuss the american companys financial statements

Q : Why the periodic inventory system is used by both the buyer

Q : Construction project to build an earthen dam

Q : What was the amount of best buys cost of merchandise sold

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What would be the result of the change on ending inventory

Reference No:- TGS0696996

Recent Questions Asked Accounting Basics

Q : Compute the difference in cost between making and buying

Q : How is the cost of inventory calculated and

Q : Should the company make or buy the valve

Q : Discuss the furniture line and the financial benefit

Q : What would be the result of the change on ending inventory

Q : Discuss the american companys financial statements

Q : Why the periodic inventory system is used by both the buyer

Q : Construction project to build an earthen dam

Q : What was the amount of best buys cost of merchandise sold

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