When an Inventory Costing Formula Is Changed, the Change Is

Multiple Choice

When an inventory costing formula is changed, the change is required to be applied:

A) prospectively and the adjustment taken through the current profit or loss;
B) retrospectively and the adjustment taken through the opening balance of retained earnings;
C) prospectively and the current period adjustment recognised directly in equity;
D) retrospectively and the adjustment recognised as an extraordinary gain or loss.