Accounting for a change from FIFO to LIFO will include:

Select one:

a.An adjustment to Retained Earnings, but not a Restatement of prior-year presented financial statements.

b.A Restatement of prior-year presented financial statements, but not an adjustment to Retained Earnings.

c.Both an adjustment to Retained Earningsanda Restatement of prior-year presented financial statements.

d.Neither an adjustment to Retained Earningsnora Restatement of prior-year presented financial statements.