Culver Inc. began operations on January 1, 2018, and uses the FIFO method of pricing inventory. Management is contemplating a change in inventory methods for 2021 The following informations available for the years 2018-2020: Net Income Computed Using Average-Cost Method FIFO Method $101,000 $115,000 LIFO Method 2018 $80,000 2019 79,000 67,000 154,000 50,000 129,000 2020 167,000 (a) Prepare the journal entry necessary to record a change from the FIFO method to the average cost method in 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 for the amounts.) Account Titles and Explanation Debit Credit (b) Determine net income to be reported for 2018, 2019 and 2020, after giving effect to the change in accounting principle. Net Income 2018 $ 2019 $ 2020 $ (c) Assume Culver Inc. used the average cost method instead of the FIFO method during the years 2018-2020. In 2021, Culver changed to the LIFO method. Assume Culver deems the determination of the change to LIFO to be impractical. Prepare the journal entry necessary to record the change in principle. (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 for the amounts.) Account Titles and Explanation Debit Credit