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Zorro Enterprises began operations in 2017 and has been using a UFO valuation method for inventory. For a justifiable reason. Zorro has decided to switch

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Zorro Enterprises began operations in 2017 and has been using a UFO valuation method for inventory. For a justifiable reason. Zorro has decided to switch to the FIFO method in 2020. The Cost of Goods Sold amounts for 20172020 are given below for both the UFO and FIFO methods. Ignoring taves, what is the amount of the adjusting entry (as a positive number: don't worry about whether it is a debit or a credit) to Retained Earnings at the beginning of 2020 to reflect this change in accounting prineiple

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