Which statements regarding changing inventory methods is true?

Changing inventory methods can significantly impact a company's financial statements and tax obligations. Generally accepted accounting principles (GAAP) require consistent application of inventory methods, so switching methods may necessitate a retrospective adjustment to prior financial statements. Additionally, companies must disclose the change and its effects in their financial reports. It's important to consult with financial advisors or Accountants, as the implications can vary based on the specific circumstances and regulations.