Kumar SA uses a perpetual inventory system. At January 1, 2019, inventory was R$214,000,000 at both cost

Question:

Kumar SA uses a perpetual inventory system. At January 1, 2019, inventory was R$214,000,000 at both cost and net realizable value. At December 31, 2019, the inventory was R$286,000,000 at cost and R$265,000,000 at net realizable value. Prepare the necessary December 31 entry under
(a) The cost-of-goods-sold method
(b) The loss method.

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