In March 2025, Toucan Inc. decided to change from the FIFO m…
In March 2025, Toucan Inc. decided to change from the FIFO method of valuing inventory to the weighted average method. Because prices were rising, cost of sales were higher and ending inventory lower for the preceding period by ${a},000. Toucan’s tax rate is {b}%, and previously reported retained earnings were ${c},000. Calculate the closing balance of retained earnings. Round the final answer to the whole number.