2. Prepare the journal entry Peterson Furniture Designs would record on December 31 to write down its inventory to LCM/NRV. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2 Calculate the average days to sell inventory for 2015, 2014, and 2013. (Use 365 days in a year. Use rounded "Inventory Turnover Ratio" and round your answers to 1 decimal place.) Days 2014 2015 2013 Average Days to Sell Inventory K Req 1A Req 2 Req 1A Req 1B Req 2 Is Aegis performing better than its competitor Snow Pack Corporation where the inventory turned over is 7.0 times in 2015 (52.1 days to sell). Both companies use the same inventory costing method (FIFO) OYes ONo KReq 1B Req 2