(Answered) Problemgiven the following information how do i find the

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Given the following information how do I find the correct adjusted retained earnings for 2014?

Gordon Company started operations on January 1, 2009, and has used the FIFO method of inventory valuation since its inception. In 2014, it decides to switch to the average cost method. You are provided with the following information.

Net Income			Retained Earnings (Ending Balance)
Under FIFO	Under Average-Cost	Under FIFO
2009	$100,470	$91,310	$101,010
2010	69,580	64,330	159,170
2011	89,420	80,470	235,750
2012	120,640	130,790	339,570
2013	299,140	293,740	590,580
2014	305,190	310,250	779,030

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