Splish Company began operations on January 1, 2018, and uses the average-cost method of pricing inventory. Management is contemplating a change in inventory methods for 2021. The following information is available for the years 20182020.

		Net Income Computed Using
		Average-Cost Method		FIFO Method		LIFO Method
2018		$15,980		$19,010		$11,880
2019		17,940		20,930		13,920
2020		19,850		25,140		17,140

(a) Prepare the journal entry necessary to record a change from the average cost method to the FIFO method in 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation	Debit	Credit
Enter an account title	Enter a debit amount	Enter a credit amount
Enter an account title	Enter a debit amount	Enter a credit amount

(b) Determine net income to be reported for 2018, 2019, and 2020, after giving effect to the change in accounting principle.

		Net Income
2018		$Enter a dollar amount
2019		$Enter a dollar amount
2020		$Enter a dollar amount

(c) Assume Splish Company used the LIFO method instead of the average cost method during the years 20182020. In 2021, Splish changed to the FIFO method. Prepare the journal entry necessary to record the change in principle. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation	Debit	Credit
Enter an account title	Enter a debit amount	Enter a credit amount
Enter an account title	Enter a debit amount