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Ivanhoe Company began operations on January 1,2023 and uses the FIFO method in costing its...

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Accounting

Ivanhoe Company began operations on January 1,2023 and uses the FIFO method in costing its raw material inventory. Management
is contemplating a change to the LIFO method and is interested in determining what effect such a change will have on net income.
Accordingly, the following information has been developed:
Based on the above information, a change to the LIFO method in 2024(ignore income tax considerations) would result in net income
for 2024 of
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Attempts: 1 of 2 used
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