Question: Identification of Accounting Changes and Errors Indicate whether the following items are a (a) change in accounting principle, (b) change in accounting estimate, (c) change

Identification of Accounting Changes and Errors Indicate whether the following items

Identification of Accounting Changes and Errors Indicate whether the following items are a (a) change in accounting principle, (b) change in accounting estimate, (c) change in reporting entity, or (d) correction of an error 1. The controller of H\&P Company discovered that inventory held on consignment was counted as part of ending inventory. 2. An investment in another company is now considered a subsidiary (due to an increase in ownership interest) and will be consolidated in the financial statement of the H\&P Company. 3. H\&P Company decided to change its inventory cost method from FIFO to the average-cost method

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