The following information is taken from Just Pants financial statements (amounts in thousands):
Inventory Footnote: If the first-in, first-out method of accounting for inventory had been used, inventory would have been approximately $26.9 million and $25.1 million higher than reported at 12/31/2005 and 12/31/2004, respectively.
Required:

Question

The following information is taken from Just Pants financial statements (amounts in thousands):
  Inventory Footnote: If the first-in, first-out method of accounting for inventory had been used, inventory would have been approximately $26.9 million and $25.1 million higher than reported at 12/31/2005 and 12/31/2004, respectively.
Required:

Quizplus · Accepted Answer

The Answer of The following information is taken from Just Pants financial statements (amounts in thousands):
  Inventory Footnote: If the first-in, first-out method of accounting for inventory had been used, inventory would have been approximately $26.9 million and $25.1 million higher than reported at 12/31/2005 and 12/31/2004, respectively.
Required:

The Following Information Is Taken from Just Pants Financial Statements