Goddard company has used the fifo method of inventory valuation since it began operations in 2018. goddard decided to change to the average cost method for determining inventory costs at the beginning of 2021. the following schedule shows year-end inventory balances under the fifo and average cost methods: year fifo average cost 2018 $45,200 $54,400 2019 78,600 71,200 2020 83,800 78,600 required: prepare the 2021 journal entry to adjust the accounts to reflect the average cost method.