Question
A company may change from one inventory method to another inventory method during an accounting period. How would a voluntary change from FIFO to LIFO
A company may change from one inventory method to another inventory method during an accounting period. How would a voluntary change from FIFO to LIFO typically be treated for accounting purposes?
Modified retrospective treatment
None of these
Retrospective treatment
Prospective treatment
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Financial Accounting
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
3rd Edition
0471372668, 978-0471372660
