kindly, solve all question requirements.

QUESTION 7 10 point Problem 2: Below is the net income of XYZ Sports Co., computed under the two inventory methods FIFO Average Cost 2012 26,000 23.000 2013 30,000 25 000 2014 29,000 27,000 2015 34,000 30,000 a. Assume that in 2015 XYZ decided to change from the FIFO method to the average cont method of pricing inventories. Prepare the journal entry necessary for the change that took place income reported for 2012, 2013, 2014, and 2015. b. Assume that in 2015 XYZ which had been using the average cost method since 2012, changed to the FIFO method of pricing inventories. Prepare the journal entry necessary to record the change in 2015, and show net income reported for 2012, 2013, 2014, and 2015