Jenell Inc. decides to change its method of accounting for inventory from LIFO to FIFO, for

Jenell Inc. decides to change its method of accounting for inventory from LIFO to FIFO, for
accounting purposes only in 20x1. Data for Jenell:
Retained earnings, January 1, 20x0 $160,000
Income tax rate 30%
Effect of change on pretax net income in:
20x1: $20,000 increase
20x0: 30,000 increase
Years before 20x0 in total: $120,000 increase
20x0 net income (after tax) under LIFO $80,000
20x1 net income (after tax) under LIFO 105,000
The entry to record the accounting change will include which of the following.
A) cr. expense $105,000
B) cr. retained earnings $105,000
C) cr. cumulative effect of change in accounting principle $105,000
D) dr. retained earnings $150,000