Which of the following is a change in accounting principle? I. A change from FIFO to weighted average inventory cost II. A change in estimated residual value of depreciable asset III. A change from double-declining balance depreciation to straight-line depreciation method IV. Recording depreciation for the first time on machinery purchased five years ago

a.

I, III

b.

I, II, III

c.

III only

d.

I, II, III, IV