When Disclosing the Impact of a Retrospective Adjustment for the Change

Multiple Choice

When disclosing the impact of a retrospective adjustment for the change from LIFO to FIFO in 2015, which of the following impacts is not expected to be reported in the comparative financial statements when two-year comparative statements are presented?

A) impact on beginning inventory for 2014
B) impact on 2014 net income
C) impact on ending inventory for 2015
D) impact on cost of goods sold for 2014