Listed below are various types of accounting changes and errors.
______ 1. Change in a plant asset’s salvage value.
______ 2. Change due to overstatement of inventory.
______ 3. Change from sum-of-the-years’-digits to straight-line method of depreciation.
______ 4. Change from presenting unconsolidated to consolidated financial statements.
______ 5. Change from LIFO to FIFO inventory method.
______ 6. Change in the rate used to compute warranty costs.
______ 7. Change from an unacceptable accounting principle to an acceptable accounting principle.
______ 8. Change in a patent’s amortization period.
______ 9. Change from completed-contract to percentage-of-completion method on construction contracts.
______ 10. Change from FIFO to average-cost inventory method.
Instructions
For each change or error, indicate how it would be accounted for using the following code letters:
(a) Accounted for prospectively.
(b) Accounted for retrospectively.
(c) Neither of the above.

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