Macintosh Inc. changed from LIFO to the FIFO inventory costing method on January 1, 2016. Inventory values at the end of each year since the inception of the company are as follows:

	FIFO	LIFO
2014	$	196,000		$	178,000
2015		392,000			356,000

Required:

Ignoring income tax considerations, prepare the entry to report this accounting change.