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Which of the following disclosures is required for a change from LIFO to FIFO?

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Which of the following disclosures is required for a change from LIFO to FIFO?;A) The cumulative effect on prior years, net of tax, in the current retained earnings statement;B) The justification for the change;C) Restated prior year income statements;D) All of these are required.

 

Paper#27425 | Written in 18-Jul-2015

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