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Accounting

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What is the effect of the change in methods on 2024 net income?
\table[[The effect of the change for the year 2024 is a,$22,320,increase,in cost of goods,,],[sold resulting in a,$22,320,decrease,in income before taxes and a(n),$16,740,],[decrease,in income after tax.,,,,]]
Rockwell Corporation uses a periodic inventory system and has used the FIFO cost method since inception of the company in 1979. In 2024, the company decided to switch to the average cost method. Data for 2024 are as follows:
\table[[Beginning inventory, FIFO ,,$172,500
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