18.3 Accounting estimates and errors * LO2, 3 Yung Ltd estimates its future liability for repairs to products sold with a 12-month warranty as a percentage of its net credit sales. Warranty expense and actual repair costs for the last 2 years ending 30 June were as follows. 2021-22 2022-23 Warranty provisions $10 000 11 000 Actual costs $16 000 18 250 Required Comment on Yung Ltd's accounting method for warranty liabilities. What action should be taken with respect to the accounting estimates? If an investigation during 2023-24 finds that the figure for warranty expense was incorrectly calculated for 2022-23 and should have been $17 500, what action is required under AASB 108/1AS 8