Problem
Sandran Inc. has been in operation for 3 years and uses the FIFO method of pricing inventory. During the fourth year, Sandran changes to the average-cost method for all its inventory. How will Sandran report this change? Sandran Inc. has been in operation for 3 years and uses the FIFO method of pricing inventory. During the fourth year, Sandran changes to the average-cost method for all its inventory. How will Sandran report this change?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.