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windaer Lomparry buyan speratiuma un Jeruary 1, 2018. and uaa the everupe-coat muthud of pris ng imentury. Munagement a cortLmpluting a hungs ir iventury me.hada far 2021. The fuloniry infurmation ia evai uble for the peara 2018 202o. Net Income Computed Using FIFO Method S19.030 21.010 24,050 LTFO Method Average-Cost Method $16,130 17,910 25.120 2018 $12,070 10,70 2014 2020 () Prepare the juurnal entry resoury io rucord e dharye from the arrege oal mslhud te the PIFU malhud in 2021. (Creult acrouwl Etles ure uulomalcaly maented when amount is entered. De mot mdent mamally. If no entry s reyurcd, seleet "Ne tntry" for the and enter o for the amounts. ) Account Titla and txplanalion Debst Crudit (b) Deturmine net inceme ta be rup:rted for 2018, 201s, and 2020, aftar giving uffect to the charge in accountirg principle. Net Tarame 2018 2019 (c) Assume Windsor Company used the LIFO method instead of the average cost method during the years 2018-2020. In 2021, Wintsor changed to the FIFO mechod. Prepare the joumal entry necessary to record the change in principle. (Credit account titles are automatically in Anant ie entared. no not indent manunly. I na antry le regnired, celect "Nn rntry" or the enwnt tihlae and enter a for the amonte. Account Titles and Explanation Debit Credit

windaer Lomparry buyan speratiuma un Jeruary 1, 2018. and uaa the everupe-coat muthud of pris ng imentury. Munagement a cortLmpluting a hungs ir iventury me.hada far 2021. The fuloniry infurmation ia evai uble for the peara 2018 202o. Net Income Computed Using FIFO Method S19.030 21.010 24,050 LTFO Method Average-Cost Method $16,130 17,910 25.120 2018 $12,070 10,70 2014 2020 () Prepare the juurnal entry resoury io rucord e dharye from the arrege oal mslhud te the PIFU malhud in 2021. (Creult acrouwl Etles ure uulomalcaly maented when amount is entered. De mot mdent mamally. If no entry s reyurcd, seleet "Ne tntry" for the and enter o for the amounts. ) Account Titla and txplanalion Debst Crudit (b) Deturmine net inceme ta be rup:rted for 2018, 201s, and 2020, aftar giving uffect to the charge in accountirg principle. Net Tarame 2018 2019 (c) Assume Windsor Company used the LIFO method instead of the average cost method during the years 2018-2020. In 2021, Wintsor changed to the FIFO mechod. Prepare the joumal entry necessary to record the change in principle. (Credit account titles are automatically in Anant ie entared. no not indent manunly. I na antry le regnired, celect "Nn rntry" or the enwnt tihlae and enter a for the amonte. Account Titles and Explanation Debit Credit

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter8: Inventories: Special Valuation Issues
Section: Chapter Questions
Problem 18E: Errors During the course of your examination of the financial statements of Burnett Co., a new...
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windaer Lomparry buyan speratiuma un Jeruary 1, 2018. and uaa the everupe-coat muthud of pris ng imentury. Munagement a cortLmpluting a hungs ir iventury me.hada far 2021. The fuloniry infurmation ia evai uble for the peara 2018 202o. Net Income Computed Using FIFO Method S19.030 21.010 24,050 LTFO Method Average-Cost Method $16,130 17,910 25.120 2018 $12,070 10,70 2014 2020 () Prepare the juurnal entry resoury io rucord e dharye from the arrege oal mslhud te the PIFU malhud in 2021. (Creult acrouwl Etles ure uulomalcaly maented when amount is entered. De mot mdent mamally. If no entry s reyurcd, seleet "Ne tntry" for the and enter o for the amounts. ) Account Titla and txplanalion Debst Crudit (b) Deturmine net inceme ta be rup:rted for 2018, 201s, and 2020, aftar giving uffect to the charge in accountirg principle. Net Tarame 2018 2019 (c) Assume Windsor Company used the LIFO method instead of the average cost method during the years 2018-2020. In 2021, Wintsor changed to the FIFO mechod. Prepare the joumal entry necessary to record the change in principle. (Credit account titles are automatically in Anant ie entared. no not indent manunly. I na antry le regnired, celect "Nn rntry" or the enwnt tihlae and enter a for the amonte. Account Titles and Explanation Debit Credit
Transcribed Image Text:windaer Lomparry buyan speratiuma un Jeruary 1, 2018. and uaa the everupe-coat muthud of pris ng imentury. Munagement a cortLmpluting a hungs ir iventury me.hada far 2021. The fuloniry infurmation ia evai uble for the peara 2018 202o. Net Income Computed Using FIFO Method S19.030 21.010 24,050 LTFO Method Average-Cost Method $16,130 17,910 25.120 2018 $12,070 10,70 2014 2020 () Prepare the juurnal entry resoury io rucord e dharye from the arrege oal mslhud te the PIFU malhud in 2021. (Creult acrouwl Etles ure uulomalcaly maented when amount is entered. De mot mdent mamally. If no entry s reyurcd, seleet "Ne tntry" for the and enter o for the amounts. ) Account Titla and txplanalion Debst Crudit (b) Deturmine net inceme ta be rup:rted for 2018, 201s, and 2020, aftar giving uffect to the charge in accountirg principle. Net Tarame 2018 2019 (c) Assume Windsor Company used the LIFO method instead of the average cost method during the years 2018-2020. In 2021, Wintsor changed to the FIFO mechod. Prepare the joumal entry necessary to record the change in principle. (Credit account titles are automatically in Anant ie entared. no not indent manunly. I na antry le regnired, celect "Nn rntry" or the enwnt tihlae and enter a for the amonte. Account Titles and Explanation Debit Credit
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