Below is the net income of Cheyenne Instrument Co., a private corporation, computed under the three inventory methods using a periodic system. FIFO 2018 2019 2020 2021 $26,200 27,100 27,900 31,800 Average Cost $22,900 22,100 25,900 27,400 LIFO $20,500 18,400 22,800 23,300 (Ignore tax considerations.) (a) Assume that in 2021 Cheyenne decided to change from the FIFO method to the average-cost method of pricing inventories. Prepare the journal entry necessary for the change that took place during 2021, and show net income reported for 2018, 2019, 2020, and 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Account Titles and Explanation Debit Credit 2021 2020 2019 2018 Net incomes (b) Assume that in 2021 Cheyenne, which had been using the LIFO method since incorporation in 2018, changed to the FIFO method of pricing inventories. Prepare the journal entry necessary to record the change in 2021 and show net income reported for 2018, 2019, 2020, and 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Account Titles and Explanation xplanation Debit Credit 2021 2020 2019 2018 Net income s