Macintosh Inc. changed from LIFO to the FIFO inventory costing method on January 1, 2018. Inventory values at the end of each year since the inception of the company are as follows: 2016 2017 FIFO $207,000 414,000 LIFO $183,500 367,000 Required: Ignoring income tax considerations, prepare the entry to report this accounting change. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the accounting change. Note: Enter debits before credits. General Journal Debit Credit Date January 01, 2018 Record entry Clear entry View general journal