Brief Exercise $20-1($Static$)$ Change in inventory methods; FIFO method to the average cost method $[$LO$20-2]$

In $2024,$ the Barton and Barton Company changed its method of valuing inventory from the FIFO method to the average cost method. At December $31,2023,$ B Brief Exercise $20-1($Static$)$ Change in inventory methods; FIFO method to the average cost method $[$LO$20-2]$

In $2024,$ the Barton and Barton Company changed its method of valuing inventory from the FIFO method to the average cost method. At December $31,2023,$ B Brief Exercise $20-1($Static$)$ Change in inventory methods; FIFO method to the average cost method $[$LO$20-2]$

In $2024,$ the Barton and Barton Company changed its method of valuing inventory from the FIFO method to the average cost method. At December $31,2023,$ B Brief Exercise $20-1($Static$)$ Change in inventory methods; FIFO method to the average cost method $[$LO$20-2]$

In $2024,$ the Barton and Barton Company changed its method of valuing inventory from the FIFO method to the average cost method. At December $31,2023,$ B

$1$

Brief Exercise $20-1($Static$)$ Change in inventory methods; FIFO method to the average cost method $[$LO$20-2]$

$333$

ports

In $2024,$ the Barton and Barton Company changed is method of valung invertion from the FFCO seethod to the average cost method. At December $31,2023,$ B & B$\text{'}$s inventories were $$32$ million $[$FIFO$],$ B and B$\text{'}$s records indeated that the invertories would have lotaled $$238$ million at December $34,2023,$ if determined on an average cost basis.

Ignoring income taxes, what journal erty will B & B use to record the adjustment in $2024?$

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account fleld. Enter your answers in millions rounded to $1$ decimal place $($i$.$e$.,5,500,000$ should be entered as $5\mathrm{.}5).$

Prov

$$

Refleresces

Journal entry worksheet

$1$

$$

Record the change in invertory methods.

Nate: Initer debts before oredit.

$\backslash$table$[[$Evert$,$Gen$-$ral Journal,Deble,Credit$],[1,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$

$$

$$

$$

Graw

Prex

$1$ of $9$

Noxt