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An example of a correction of an error in previously issued financial statements is a change: Select one: a. From the FIFO method of inventory

An example of a correction of an error in previously issued financial statements is a change: Select one: a. From the FIFO method of inventory valuation to the LIFO method Ob. In the service life of plant assets, based on changes in the economic environment c. Using a new estimate of salvage value of depreciable assets d. From the LIFO method of Inventory Valuation to the FIFO method e. To recalculate depreciation upon discovery that the estimated life of the asset was erroneously computed by the bookkeeper when the asset was purchased. Clear my choice

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