E 9.24 – Goddard Company

Intermediate Accounting

Spiceland, Nelson, and Thomas

10th Edition

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Prepare the journal entry to adjust to avg cost method. How much is cost of goods sold adjustment on the revised income statement?

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  • Search Terms: , cost $ , , , in lower n inventory required: . . accounts adjust and at average balances be be $, began beginning change company cost cost $ , costs decided determining earnings entry fifo following for goddard goods has higher how ignoring in income inventory it journal journal debit credit retained lower method method. . methods: year fifo average much of operations or prepare reflect revised schedule shows since sold statement. statement? no event general taxes, the to under used valuation would year-end
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