QUESTION $1[10$ Marks$]$ Five Incorporated is a local manufacturer taxed at $\backslash (27\backslash \%\backslash ).$ The accounting policy states that finished goods inventory is valued using the weighted average method while raw material inventories are valued using the first$-$in$-$first$-$out method. The board of directors requested an alignment in inventory valuation methods and management agreed that the first$-$in$-$first$-$out method is more representative of costs and allows for effective cost management practices. Inventory values recorded are as follows: You are required to: Prepare the note to the financial statements to report on the change in inventory valuation method. Calculate and report on all affected balances for all affected years.