Multi Company changed its inventory method from LIFO to FIFO. Multi must disclose the following information in its notes a. the effect on earnings per share amounts an estimation of future effect of the change on net income.
b. the cumulative effect of the change on retained earnings

Suppose the number of equipment sales and service contracts that a store sold during the last six (6) months for treadmills and exercise bikes was as follows: treadmill exercise bike total sold 185 123 service contracts 67 55 the store can only sell a service contract on a new piece of equipment. of the 185 treadmills sold, 67 included a service contract and 118 did not.