Question: Question 10 When changing inventory methods from any other method to LIFO: A) The change is reported retrospectively on all financial statements, and disclosure notes

Question 10

When changing inventory methods from any other method to LIFO:

A) The change is reported retrospectively on all financial statements, and disclosure notes are needed

B) The change is reported retrospectively on all financial statements, and no disclosure notes are needed

C) The LIFO method is just used from that point forward and no disclosure notes are needed

D) The LIFO method is just used from that point forward but disclosure notes are needed

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