The Rockwell Corporation uses a periodic inventory system and has used the FIFO cost method since inception of the company in 1982 in 2021, the company decided to change to the average cost method Data for 2021 are as follows: $210,900 Beginning inventory, FIFO (5,700 units @ $37.00) Purchasest 5,700 units @ $43.00 5,700 units $47.00 Cost of goods available for sale Sales for 2021 (9,400 units @ $77.00) 5245,180 267,900 513,000 $723,900 $723,860 Additional information: 1. The company's effective income tax rate is 25% for all years. 2. If the company had used the average cost method prior to 2021, ending inventory for 2020 would have been $188100. 3.7700 units remained in inventory at the end of 2021 Required: 1. Prepare the journal entry at the beginning of 2021 to record the change in principle. 2. In the 2021-2019 comparative financial statements, what will be the amounts of cost of goods sold and inventory reported for 2021? Complete this question by entering your answers in the tabs below. Required 1 Required 2 In the 2021-2019 comparative financial statements, what will be the amounts of cost of goods sold and Inventory reported for 2021? Cost of goods sold Inventory