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A Retailing Firm Changed from LIFO to FIFO in 2014

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A retailing firm changed from LIFO to FIFO in 2014. Inventory valuations for the two methods appear below:
A retailing firm changed from LIFO to FIFO in 2014. Inventory valuations for the two methods appear below: Purchases in 2013 and 2014 were $60,000 in each year. -Using the information above,in the comparative 2013 and 2014 income statements,what amounts would be shown for cost of goods sold? Purchases in 2013 and 2014 were $60,000 in each year.
-Using the information above,in the comparative 2013 and 2014 income statements,what amounts would be shown for cost of goods sold?
A retailing firm changed from LIFO to FIFO in 2014. Inventory valuations for the two methods appear below: Purchases in 2013 and 2014 were $60,000 in each year. -Using the information above,in the comparative 2013 and 2014 income statements,what amounts would be shown for cost of goods sold?

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