Ramsgate Company has used the FIFO method for inventory valuation since it began business in 2012,but has elected to change to the average cost method starting in 2015.Year-end inventory valuations under each method are shown below: 
Required:
How,and when,would Ramsgate reflect the change in accounting principle in its financial statements (ignore income taxes)?
Definitions:
Dissonance
A state of conflict or inconsistency between one's beliefs, actions, or attitudes.
Decision
The act of making a choice or coming to a conclusion after considering all relevant information.
Products
Items or services produced for sale or use, often designed to meet consumer needs or wants.
SELL Sequence
A sales strategy that involves showcasing the product or service, explaining the benefits, leading into the advantages, and locking in the sale.
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