Jenell Inc. decides to change its method of accounting for inventory from LIFO to FIFO, for accounting purposes only in 20x1. Data for Jenell: Retained earnings, January 1, 20x0 Income tax rate Effect of change on pretax net income in: 20x1: 20x0: $20,000 increase 30,000 increase $160,000 30% Years before 20x0 in total: $120,000 increase 20x0 net income (after tax) under LIFO 20x1 net income (after tax) under LIFO $80,000 105,000 The entry to record the accounting change will include which of the following. A. cr. expense $105,000 B. cr. retained earnings $105,000 C. cr. cumulative effect of change in accounting principle $105,000 D. dr. retained earnings $150,000