What adjustment would the company make in the current year

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Problem

A company reported inventory of $185,000 in the previous year, using the FIFO method. In the current year, the company decided to change its inventory method to average cost. If the company had used the average cost method in the previous year, ending inventory would have been $171,000. Get the instant assignment help. What adjustment would the company make in the current year for this change in inventory method?

Reference no: EM133928371

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