Question: 1) On December 31, 2021 Apple Company changed its method of accounting for inventory from weighted average cost method to the FIFO method. This change

1) On December 31, 2021 Apple Company changed its method of

1) On December 31, 2021 Apple Company changed its method of accounting for inventory from weighted average cost method to the FIFO method. This change caused the 2021 beginning inventory to increase by $800,000. The cumulative effect of this accounting change to be reported for the year ended December 31, 2021, assuming a 30% tax rate, is

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