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Heinz Company began operations on January 1, 2010, and uses the FIFO method in costing its raw material inventory.Management is contemplating a change to the average cost 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 average cost method in 2011 would result in net income for 2011 of
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