Swing Ltd Uses FIFO for Its Inventory,which Is Valued at $21

question 33

Multiple Choice

Swing Ltd uses FIFO for its inventory,which is valued at $21 000.It is considering a change to moving weighted average,which would change the valuation of inventory to $22 500.Which of the following would be decreased by the change?

• A) cost of goods sold
• B) sales
• C) liabilities
• D) retained profits.

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