Required: Match the following statements 1-10 the appropriate code letter A-C Statements 1-10 are as follows: Change due to understatement of inventory Change due to charging a new asset directly to an expense account Change from expensing to capitalizing certain costs, due to a change in periods benefited Change from FIFO to average cost inventory procedures Change due to failure to recognize an accrue (un-collected) revenue Change in amortization period for an intangible asset Change in expected recovery of an account receivable Change in the loss rate on warranty costs Change due to failure to recognize and accrue income Change in residual value of depreciable plant asset Codes A-C are as follows: A. Change in accounting policy B. Change in accounting estimate C. Error correction Statements 1-10 Codes A-C (select ONE code per statement) 1   2   3   4   5   6   7   8   9   10

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Q: am.402.

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A: Hi student Since there are multiple questions, we will answer only first question.

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Q: Explain the appropriate accounting treatment required when a change in inventory method is made.

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A:

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Q: Describe the accounting treatment for a change in inventory method other than to LIFO.

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