[The following information applies to the questions displayed below.) M Shown below are net income amounts as they would be determined by Weihrich Steel Company by each of three different inventory costing methods ($ in thousands). Pre-2020 2020 LIFO $2,380 FIFO $2,900 800 $3,700 Average Cost $2,640 550 $3,190 Required: 1. Assume that Weihrich used FIFO before 2021, and then in 2021 decided to switch to average cost. Prepare the journal entry to record the change in accounting principle. (Ignore income tax effects.) (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in thousands.) View transaction list Journal entry worksheet D- Record the change in accounting principle