Question: Instructions: Please do a 200-300 word minimum posting. If you use external sources, like your text or internet sources, please name the source including any

Instructions: Please do a 200-300 word minimum posting. If you use external sources, like your text or internet sources, please name the source including any URL of any websites. Please see the grading rubric for clarification and as a guideline.

Topic: During 2015, Crop- Paper- Scissors, a craft store, changed to the LIFO inventory costing method of accounting for inventory. Suppose that during 2016, Crop- Paper- Scissors switches back to the FIFO inventory costing method and the following year switches back to LIFO again.

What would you think of a companys ethics if it changed accounting methods every year?
What accounting principle would changing methods every year violate?
Who can be harmed when a company changes its accounting methods too often? How?

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