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ABC Company provided you the following net income and inventories for 2021 and 2022:                                                                                  2021                    2022 Net income using FIFO                                        750,000              1,000,000 Year-end inventories FIFO                                 1,400,000             2,000,000 Year-end inventories - Weighted Average             900,000             1,600,000 What is the net income for the year 2022 using the weighted average costing method?

ABC Company provided you the following net income and inventories for 2021 and 2022:                                                                                  2021                    2022 Net income using FIFO                                        750,000              1,000,000 Year-end inventories FIFO                                 1,400,000             2,000,000 Year-end inventories - Weighted Average             900,000             1,600,000 What is the net income for the year 2022 using the weighted average costing method?

FINANCIAL ACCOUNTING
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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ABC Company provided you the following net income and inventories for 2021 and 2022:
                                                                                 2021                    2022
Net income using FIFO                                        750,000              1,000,000
Year-end inventories FIFO                                 1,400,000             2,000,000
Year-end inventories - Weighted Average             900,000             1,600,000


What is the net income for the year 2022 using the weighted average costing method?

 
 
 
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