Sampress, Inc., reported inventory in the 2020 year-end balance sheet, using the average cost method, as $342,000. In 2021, the company decided to change its inventory method to FIFO. If the company had used the FIFO method in 2020, ending inventory would have been $367,000. What adjustment would Sampress make for this change in inventory method? Multiple Choice Debit Inventory for $25,000; Credit Retained earnings for $25,000. Debit Cost of goods sold for $25,000; Credit Inventory for $25,000. No adjustment is necessary. Debit Inventory for $367,000; Credit Cost of goods sold for $367,000.