When a company changes from any inventory method to LIFO,the change is reported
A) prospectively because it is usually impractical to determine the effects of this change on prior years' net income. B) as an error correction. C) as a change in an accounting estimate. D) using the retrospective approach.
Answers will vary. Quality improvement enhances the probability of organizational success in increasingly competitive industries. It is an enduring feature of an organization's culture and of the economic competition we face today. It leads to competitive advantage through customer responsiveness, results acceleration, and resource effectiveness. Please see the section "Change Creates Opportunities" for more information.