Exercise 22-2 Holder-Webb Company began operations on January 1, 2012, and uses the average-cost method of pricing inventory. Management is contemplating a change in inventory methods for 2015. The following information is available for the years 20122014. Net Income Computed Using Average-Cost Method FIFO Method LIFO Method 2012 $15,958 $19,564 $12,444 2013 18,366 20,057 14,976 2014 20,460 25,174 16,520 (a) Prepare the journal entry necessary to record a change from the average cost method to the FIFO method in 2015. (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 0 for the amounts.) Account Titles and Explanation Debit Credit (b) Determine net income to be reported for 2012, 2013, and 2014, after giving effect to the change in accounting principle. Net Income 2012 $ 2013 $ 2014 $ (c) Assume Holder-Webb Company used the LIFO method instead of the average cost method during the years 20122014. In 2015, Holder-Webb changed to the FIFO method. 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 0 for the amounts.) Account Titles and Explanation Debit Credit Click if you would like to Show Work for this question: Open Show Work