please hurry!!! Situations of a Change in Accounting Principle

On January $1,2025,$ Kent Company decided to change from LIFO to FIFO. Kent started the business in $2023.$ The following analysis was provided by management:

Ending Inventory

Year LIFO FIFO

$2023375,650405,900$

$2024360,450410,750$

$2025365,975445\mathrm{.}775$

Pretax Income

Year Using LIFO Using FIFO

$2023975,0001,005,250$

$20241,350,0001,370,050$

$20251,389,5001,419,000$

Kents tax rate is $20\%.$ The IRS requires the company to ay back the income tax saved from using LIFO for previous years.

Required: Prepare the journal entry necessary to record the change on $1/1/25$