5. Talbert Inc., which uses a periodic system, changed from the weighted average cost formula to the FIFO cost formula in 2020. The increase in the prior years income before tax as a result of this change is $ 234,800. The tax rate is 30%. Prepare Talberts 2020 journal entry to record the change in accounting policy, assuming that the companys financial statements are reliable and more relevant as a result of the change. Assume that the 2020 year-end balance of inventory has not yet been recorded.