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The income statemenx above is computed based on FIFO method, in 2020. the entity revised its costing method from FIFO to Weighted average method The 2018 and 2020 inventory under FIFO is greater than that of Weighted average method by Php20,000, and Php30,000, respectively. In 2019. .nventory unaer weighted average is greater than that of FIFO method by Php 15,000
Problem 1: How much is the net effect on retained earnings caused by the change in accounting policy?
Option 1: 24,500.00
Option 2: 45,000.00
Option 3: 35,000.00
Option 4: 31,500.00
Option 5: None of the choices
Financial Statement Analysis and Preparation
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T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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