The management of Kingbird Company has asked its accounting department to describe the effect upon the companys financial position and its income statements of accounting for inventories on the LIFO rather than the FIFO basis during 2017 and 2018. The accounting department is to assume that the change to LIFO would have been effective on January 1, 2017, and that the initial LIFO base would have been the inventory value on December 31, 2016. The following are the companys financial statements and other data for the years 2017 and 2018 when the FIFO method was employed.

		Financial Position as of
		12/31/16		12/31/17		12/31/18
Cash		$ 90,800		$132,400		$152,300
Accounts receivable		81,200		98,800		172,000
Inventory		172,000		138,800		178,000
Other assets		160,300		171,400		200,700
Total assets		$504,300		$541,400		$703,000
Accounts payable		$ 39,400		$ 59,000		$ 81,200
Other liabilities		122,900		81,000		164,800
Common stock		200,700		200,700		200,700
Retained earnings		141,300		200,700		256,300
Total liabilities and equity		$504,300		$541,400		$703,000

			Income for Years Ended
			12/31/17		12/31/18
Sales revenue			$1,071,000		$1,665,300
Less:	Cost of goods sold		496,200		749,600
	Other expenses		203,800		305,700
			700,000		1,055,300
Income before income taxes			371,000		610,000
	Income taxes (40%)		148,400		244,000
Net income			$222,600		$ 366,000

Other data:

1.		Inventory on hand at December 31, 2016, consisted of 43,000 units valued at $4 each.
2.		Sales (all units sold at the same price in a given year):
			2017-153,000 units @ $7 each				2018-183,000 units @ $9.10 each
3.		Purchases (all units purchased at the same price in given year):
			2017-153,000 units @ $4.20 each				2018-183,000 units @ $5.30 each
4.		Income taxes at the effective rate of 40% are paid on December 31 each year.

Name the account(s) presented in the financial statements that would have different amounts for 2018 if LIFO rather than FIFO had been used, and state the new amount for each account that is named.