18.000 E22-78 (L03) (Various Changes in Principle-Inventory Methods) Below is the net income of Jonesey Laboratories com puted under the three inventory methods FIRO Average-Cost LIRO 2015 $75,000 $50,000 $10.000 2016 55,000 50,000 2017 58.000 30,000 42.000 2018 50,000 50,000 40.000 Instructions (Ignore tax considerations.) (a) Assume that in 2018 Jonesey decided to change from the average-cost method to the FIFO method of pricing invento ris. Prepare the journal entry necessary for the change that took place during 2018 and show net income reported for 2016, 2017, and 2018, (b) Assume that in 2018 Jonesey, which had been using the LIFO method since incorporation in 2015, changed to the average- cost method of pricing inventories. Prepare the joumal entry necessary for the change in 2018 and show net income reported for 2016, 2017, and 2018 0 1