On January 1, 2020, Skip Corp.changed from Average Cost to FIFO for recording its inventory. The following information shows the differences in Net Income for Skip since it began business in 2018. 2018 2019 2020 Average Cost 80,900 82,800 87,500 FIFO 84,000 87,100 89,000 Assuming only 2020 is presented on the financial statements, what journal entry should Skip report at the beginning of 2020? Retained Earnings 8,900 Inventory 8,900 Inventory 7,400 Retained Earnings 7,400 Inventory 8,900 Retained Earnings 8,900 Retained Earnings 7,400 Inventory 7400