Question: When a company changes from any inventory method to LIFO, the change is reported Group of answer choices as a change in an accounting estimate.

When a company changes from any inventory method to LIFO, the change is reported

Group of answer choices

as a change in an accounting estimate.

as an error correction.

prospectively because it is usually impractical to determine the effects of this change on prior years net income.

using the retrospective approach.

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