Please do not copy from Chegg. Provide an explained answer. I need to understand the journal entries.

Holder-Webb Company began operations on January 1, 2012, and uses the average-cost method of pricing inventory. Management is contemplating a change in inventory methods for 2015. The following information is available for the years 2012-2014.

Year	Average cost method	FIFO method	LIFO method
2012	15,184	19,517	11,461
2013	18,249	21,295	13,205
2014	19,410	24,015	16,240

Please do not copy from Chegg. Provide an explained answer. I need to understand the journal entries.

a. Prepare the journal entry necessary to record a change from the average cost method to the FIFO method in 2015.

b. Determine net income to be reported for 2012, 2013, and 2014, after giving effect to the change in accounting principle.

c. Assume Holder-Webb Company used the LIFO method instead of the average cost method during the years 2012-2014. In 2015, Holder-Webb changed to the FIFO method. Prepare the journal entry necessary to record the change in principle.