c. Make a disclosure to provide information in changes in accounting policies

E22.2 (L01) (Change in Policy-Inventory Methods) Whitman SA began operations on January 1, 2016, and uses the average-cost method of pricing inventory. Management is contemplating a change in inventory methods for 2019. The following information is available for the years 2016-2018. Net Income Computed Using Average-Cost Method FIFO Method 2016 16,000 19,000 2017 18,000 21,000 2018 20,000 25,000 Instructions (Ignore all tax effects.) a. Prepare the journal entry necessary to record a change from the average- cost method to the FIFO method in 2019. b. Determine net income to be reported for 2016, 2017, and 2018, after giving effect to the change in accounting policy