lint Inc. began operations on January 1, 2018, and uses the FIFO method of pricing inventory. Management is contemplating a change in inventory methods for 2021 The following information s available for the years 2018-2020:

		Net Income Computed Using
		Average-Cost Method		FIFO Method		LIFO Method
2018		$100,000		$120,000		$80,000
2019		73,000		81,000		50,000
2020		148,000		163,000		132,000

(a) Prepare the journal entry necessary to record a change from the FIFO method to the average cost method in 2021

(b) Determine net income to be reported for 2018, 2019, and 2020, after giving effect to the change in accounting principle.

		Net Income
2018		$ enter a dollar amount
2019		$ enter a dollar amount
2020

(c) Assume Flint Inc. used the average cost method instead of the FIFO method during the years 20182020. In 2021, Flint changed to the LIFO method. Assume Flint deems the determination of the change to LIFO to be impractical. 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
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount