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Assume a company decides to change its inventory methods. Which of the following is NOT accurate? Group of answer choices A.Under IFRS, changes in accounting
Assume a company decides to change its inventory methods. Which of the following is NOT accurate?
Group of answer choices
A.Under IFRS, changes in accounting policy are accounted for prospectively
B If a US company changes from LIFO to another method they must make a retrospective restatement of inventory and retained earnings
C If a US firm decides to change to LIFO it must do so on a prospective basis
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