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Question 7 1.7 pts Sky Blue, Inc. used the weighted average method of costing inventory in 2018, but switched to the FIFO method in 2019.

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Question 7 1.7 pts Sky Blue, Inc. used the weighted average method of costing inventory in 2018, but switched to the FIFO method in 2019. They did not make note of this accounting change in the 2019 year-end financial statements and Cost of Goods Sold is the largest expense item on Sky Blue's Income Statement. What accounting principles and/or concepts are being misapplied or violated? O A) Matching Principle, Conservatism Concept, and Materiality Concept B) Conservatism Concept, Revenue Recognition Principle, and Disclosure Principle C) Consistency Principle, Matching Principle, and Cost Principle O D) Disclosure Principle, Consistency Principle, and Materiality Concept

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