Question: When an inventory costing formula is changed, the change is required to be applied: A prospectively and the adjustment taken through the current profit or
When an inventory costing formula is changed, the change is required to be applied:
A prospectively and the adjustment taken through the current profit or loss:
B retrospectively and the adjustment taken through the opening balance of accumulated profits;
C prospectively and the current period adjustment recognised directly in equity:
D retrospectively and the adjustment recognised as an extraordinary gain or loss.
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