Cullumber Company started operations on January 1, 2012, and has used the FIFO method of inventory valuation since its inception. In 2018, it decides to switch to the average-cost method. You are provided with the following information.

		Net Income				Retained Earnings (Ending Balance)
		Under FIFO		Under Average-Cost		Under FIFO
2012		$109,300		$99,300		$101,800
2013		73,600		69,000		172,800
2014		86,500		76,400		257,100
2015		119,500		129,900		307,400
2016		299,300		289,800		625,300
2017		302,300		307,300		745,600

What is the beginning retained earnings balance at January 1, 2017, if Cullumber prepares comparative financial statements starting in 2017?

What is the beginning retained earnings balance at January 1, 2018, if Cullumber prepares single-period financial statements for 2018?