Homework Answers
(b) $58,955
Explanation:
Cummulative effect = summation of [(Income data under FIFO - Income data unfer weighted average) x (1-tax rate)]
= (398800-382100) x 0.65 + (426900-398700) x 0.65 + (466900-421100) x 0.65
= $10,855 + $18,330 + $29,770
= $58,955
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adopted weighted-average pricing for inventory. In 2020, in
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Year
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2013
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2014
390,000
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2015
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