Business, 11.12.2019 21:31 sascsl2743

The board of directors of ichiro corporation is considering whether or not it should instruct the accounting department to shift from a first-in, first-out (fifo) basis of pricing inventories to a last-in, first-out (lifo) basis. the following information is available. 21,000 units $50 6,000 units 20 6,000 units 22 10,000 units 25 7,000 unitsa 30 sales inventory, january 1 purchases inventory, december 31 8,000 units ? operating expenses$200,000 instructions prepare a condensed income statement for the year on both bases for comparative purposes.

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