for each change or error, indicatr how it would be accounted for using the following:

a. accounted for prospectively

b. accounted for retrospectively

c. none

Listed below are various types of accounting changes and errors. 1. Change in a plant asset's salvage value. 2. Change due to overstatement of inventory. 3. Change from sum-of-the-years'-digits to straight-line method of depreciation. 4. Change from presenting unconsolidated to consolidated financial statements. 5. Change from LIFO to FIFO inventory method. 6. Change in the rate used to compute warranty costs. 7. Change from an unacceptable accounting principle to an acceptable accounting principle. 8. Change in a patent's amortization period. 9. Change from completed-contract to percentage-of-completion method on construction contracts 10. Change from FIFO to average-cost inventory method. 10PTS 03