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Dabest Company provided the following net income and inventory: 2019 Net Income using LIFO 2,750,000...

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Accounting

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Dabest Company provided the following net income and inventory: 2019 Net Income using LIFO 2,750,000 Year-end inventory-FIFO 1,400,000 Year-end inventory-LIFO 900,000 2020 3,000,000 2,000,000 1,600,000 What amount should be reported as net income for 2020 using the FIFO cost flow? Select the correct response 3,100,000 2,900,000 3,500,000 2,600,000

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