In 2020 ABC Co. decided to change to the FIFO method for inventory. The Cost of Goods Sold in 1919 was $300,000 under LIFO. Under FIFO it would bave been $250,000. In 2020 under FIFO Cost of Goods Sold woukd have been $360,000 whereas under LIFO. It would have been $410,000. Journalize all necessary adjusting entries for 2020.