Red Company has a calendar year end. In 20x2, Red changed its method of valuing inventory from the FIFO method to the average cost method. At December 31, 20x1, Red's inventories were $33.4 million (FIFO). Red's records indicated that the inventories would have totaled $24.5milli on at December 31,201, If determined on an average cost basis. Ignoring income taxes, what journal entry will Red use to record the adjustment on January 1,202 ? (If no entry is required for a transaction/event, select "No journal entry required" In the first account fleid. Enter your answers in mililons rounded to 1 decimal place (l.e., 5,500,000 should be entered as 5.5).) Journal entry worksheet