The date of record is the date on which the corporation
a. makes a payment to the stockholders of record
b. records its obligation to pay a dividend
c. finalizes its list of stockholders who will receive dividends

Connors academy reported inventory in the 2017 year-end balance sheet, using the fifo method, as $154,000. in 2018, the company decided to change its inventory method to lifo. if the company had used the lifo method in 2017, the company estimates that ending inventory would have been in the range $130,000-$135,000. what adjustment would connors make for this change in inventory method?