Bothell corp use fifo for internal reporting purpose and lifo for financial and income tax purpose. At the end of year, following information was obtained from inventory record 12/31 12/31 Ending inventory FIFO 62920 74600 LIFO 54800 $62680 A. prepare necessary adjusting journal entry assuming that bothel converts the account to LIFO at the end of 2022 b. indicate how bothell would disclose the inventory value on its comparative balance sheets prepared a the end of 2022