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Assume that Bramble has a beginning balance of retained earnings at January 1, 2020, of $990 using the LIFO method. The company declared and paid dividends of $530 in 2020. Prepare the retained earnings statement for 2020, assuming that Bramble has switched to the FIFO method.
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Assume that Bramble has a beginning balance of retained earnings at January 1, 2020, of $990 using t...
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