Question: Given the following situations, identify whether the change would require retrospective treatment or prospective treatment? From FIFO to Average Cost when it is practical to

Given the following situations, identify whether the change would require retrospective treatment or prospective treatment?
From FIFO to Average Cost when it is practical to estimate the change
From 3 year useful life to 5 year useful life to depreciate a machine
From percentage of completion to completed contract for revenue
From FIFO to LIFO when it is impractical to estimate change
From double declining balance to straight-line for depreciation
From 3% estimate for bad debts in A/R to 5% estimate for bad debts in A/R

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