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The cumulative effect of this accounting change to be report

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On December 31, 2018 Sheridan Company changed its method of accounting for inventory from weighted average cost method to the FIFO method. This change caused the 2018 beginning inventory to increase by $985000. The cumulative effect of this accounting change to be reported for the year ended 12/31/18, assuming a 30% tax rate, is ?

Reference no: EM132331678

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