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A retrospective treatment of prior yearsfinancial statements is required when there is a change from: FIFO to LIFO. LIFO to average cost. Retrospective financial statements

A retrospective treatment of prior yearsfinancial statements is required when there is a change from: FIFO to LIFO. LIFO to average cost. Retrospective financial statements are required in all of these situations. Average cost to LIFO

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