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Business, 08.04.2020 00:46 nickames202otpo7q

Bramble Corp. uses the FIFO method for internal reporting purposes and LIFO for external reporting purposes. The balance in the LIFO Reserve account at the end of 2020 was $291000. The balance in the same account at the end of 2021 is $427000. Bramble’s Cost of Goods Sold account has a balance of $2190000 from sales transactions recorded during the year. What amount should Bramble report as Cost of Goods Sold in the 2021 income statement?

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Bramble Corp. uses the FIFO method for internal reporting purposes and LIFO for external reporting p...
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