1. What amount should be reported as the prelax cumulative effect of this accounting change? During 2021, Revel Company decided to change from the FIFO method of inventory valuation to weighted average method. a. 400.000 b. 300.000 0.600.000 d. 500.000 January 1 inventory December 31 inventory FIFO 7,200,000 7,900,000 WEIGHTED AVERAGE 7,700,000 8,300,000

1. What amount should be reported as the prelax cumulative effect of this accounting change? During 2021, Revel Company decided to change from the FIFO method of inventory valuation to weighted average method. a. 400.000 b. 300.000 0.600.000 d. 500.000 January 1 inventory December 31 inventory FIFO 7,200,000 7,900,000 WEIGHTED AVERAGE 7,700,000 8,300,000

Name: Direction: Choose the correct answer. 1. What amount should be reporte
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Description: Direction: Choose the correct answer. 1. What amount should be reported as the prelax cumulative effect of this accountingchange?During 2021, Revel Company decided to change from the FIFO method of inventoryvaluation to weighted average method.a. 400

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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