Question: Goodee Bakery is considering a change in its inventory valuation method. Goodee Bakery currently uses the FIFO method and is considering a change to the

Goodee Bakery is considering a change in its inventory valuation method. Goodee Bakery currently uses the FIFO method and is considering a change to the LIFO method. Goodee Bakery started the year on January 1 with inventory at a FIFO cost of $23,500 and a LIFO cost of $20,900. The ending inventory on December 31 is $25,150 at FIFO cost and $21,600 at LIFO cost. The LIFO effect is
A. $2,600
B. $3,550
C. $950
D. $6,150
Goodee Bakery is considering a change in its

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