For which of the following changes would retained earnings be restated?

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Retained earnings are restated when a company changes its accounting principle to another acceptable principle, and the change requires a retrospective application. Changing from FIFO (First-In, First-Out) to average cost inventory valuation is an example of a change in accounting principle that would necessitate restating retained earnings to reflect inventory and cost of goods sold as if the new method had been used in all prior periods.

For Which of the Following Changes Would Retained Earnings Be