See-Saw Ltd Uses Moving Weighted Average for Its Inventory,which Is

question 4

Multiple Choice

See-Saw Ltd uses moving weighted average for its inventory,which is valued at $276 000.It is considering a change to FIFO,which would decrease the valuation to $245 000.
-Which of the following would be increased by the change?

• A) Retained profits
• B) Income tax payable
• C) Cost of goods sold
• D) Sales

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