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 adjustment, before taxes, should Loire make retrospectively to the balance reported for retained earnings at the beginning of Year 4? 2. What amount should Loire report as inventory in its financial statements for the 12/31/Year 4, presented for comparative purposes? year ended 3. By what amount should cost of sales be retrospectively adjusted for the year ended 12/31/Year 5?