Loire Co., a calendar year-end firm, has used the FIFO method of inventory measurement since it began operations in year 3. Loire changed to the weighted-average method for determining inventory costs at the beginning of Year 6. Justification for this change was that it better reflected inventory flow. The following schedule shows year-end inventory balances under the FIFO and weighted-average methods: Year FIFO Year 3 $90,000 Year 4 156,000 Year 5 166,000 Weighted-Average $108,000 142,000 150,000 In its Year 6 financial statements, Loire included comparative statements for both Year 5 and Year 4. 1. What amount should Loire report as inventory in its financial statements for the year ended 12/31/Year 4, presented for comparative purposes? 2. By what amount should cost of sales be retrospectively adjusted for the year ended 12/31/Year 5?