During 2013, Vanguard Inc. changed to the weighted-average-cost method of accounting for inventory. Suppose that during 2014,
Question:
Requirements
1. What would you think of a company's ethics if it changed accounting methods every year?
2. What accounting characteristic would changing methods every year violate?
3. Who can be harmed when a company changes its accounting methods too often? How?
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Req 1 Changing accounting methods year after year hurts a companys credibility which ...View the full answer
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Related Book For 
Financial Accounting
ISBN: 978-0133472264
5th Canadian edition
Authors: Charles Horngren, William Thomas, Walter Harrison, Greg Berberich, Catherine Seguin
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