On December 31, 2023, Dutton Company changed its method of accounting for inventory from weighted average cost method to the FIFO method. This change caused the 2023 beginning inventory to increase by $531,000. What is the cumulative effect of this accounting change to be reported for the year ended 12/31/18, assuming a 35% tax rate?

This problem has been solved! see the answerwhich of the following statements is correct? the consumer price index is a measure of the overall level of prices, whereas the gdp deflator is not a measure of the overall level of prices. if, in the year 2011, the consumer price index has a value of 123.50, then the inflation rate for 2011 must be 23.50 percent. compared to the gdp deflator, the consumer price index is the more common gauge of inflation. the consumer price index and the gdp deflator reflect the goods and services bought by consumers equally well.