Kall Corp.'s (Kall's) management team discussed the following two issues while preparing its December 31, 2020, year-end financial statements: To make the financial statements more relevant and reliable, Kall decided to change its inventory valuation method from weighted average to first-in, first-out (FIFO). Kall's beginning and ending inventory values under both methods are as follows: Date December 31, 2019 December 31, 2020 Weighted average FIFO $670,000 $685,000 735,000 740,000 Kall did NOT record warranty expense for the year ended December 31, 2019. Kall's warranty expense for 2019 was estimated to be $67,500, and there were NO additional warranty expenses or expenditures occurring in 2020. The amount is material to Kall's financial statements. Kall is subject to tax at a rate of 35%. Required: a) For each of the issues described above, identify the type of change and the proper accounting treatment. (2 marks) b) Prepare the journal entries that Kall should record, if any, to account for the two issues. (4 marks)