It was decided during 2021 to change the method of valuation from WACC to FIFO. The...

Transcribed Image Text:

It was decided during 2021 to change the method of valuation from WACC to FIFO. The change in the accounting policy has been accounted for in the current year The raw material inventories have been valued accordingly for the 3 years 2019 2020 2021 FIFO 160 000 155 000 140 000 Prepare a change in accounting policy note. Assume a tax rate of 30% WACC 133 000 144 000 120 000 It was decided during 2021 to change the method of valuation from WACC to FIFO. The change in the accounting policy has been accounted for in the current year The raw material inventories have been valued accordingly for the 3 years 2019 2020 2021 FIFO 160 000 155 000 140 000 Prepare a change in accounting policy note. Assume a tax rate of 30% WACC 133 000 144 000 120 000

Answer rating: 100% (QA)

Answer Change in Accounting Policy Note During the year 202I it was decided to change the method of ... View the full answer