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: 2014 2015 $196,000 $178,000 392,000 356,000 gnoring 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 January 01, 2016 esc FI au s F2 Fs 4 6