Exercise 22- Below is a private corporation, computed under the three inventory methods using a periodic system the net income of Buffalo Instrument Co., Average Cost FIFO LIFO 2015 2016 2017 2018 29,400 31,000 32,300 24,000 8,900 27,900 $20,100 20,300 25,800 23,900 (ignore tax considerations) change that took place during 2018, and (a) Assume that in 2018 Buffalo decided to change from the FIFO method show net income reported for 2015, 2016, 2017, and 2018. (Credit account sitles are Entry" for the account titles and enter 0 for the amounts) to the average-cost method of pricing inventories, Prepare the journal entry necessary for the astematically indented wles amount is entered. Do not indent mmanually. If no entry is required, select "No Account Tiales and Explanation Debit Credit 2018 201 Net incomes (b) Assume that in 2018 Buffalo, which had been using the LIFo method since incorporation in 2015, changed to the FIFO method of n 2018 and show net income reported for 2015, 2016, 2017, and 2018. (Credit accownt titles are autommatically indent select "No Entry" for the account titles and enter for the amts) priing anventories. Prepare the journal entry necessary to record the change entered. Do not indent sbnwally, E ao entry is t ef when aount is