Question: CJP Co. changed its inventory method to LIFO inventory valuation from FIFO. If it is impracticable to retrospectively apply the new method, CJP Co. should

CJP Co. changed its inventory method to LIFO inventory valuation from FIFO. If it is impracticable to retrospectively apply the new method, CJP Co. should O account for the change as an adjustment to beginning retained earnings. O not restate prior years' income. O restate prior years' income. O apply for an exception from the FASB

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