9-3 Kumar Inc. uses a perpetual inventory system. At January 1, 2017, inventory was $214,000,000 at both cost and realizable value. At December 31, 2017, the inventory was $286,000,000 at cost and $265,000,000 at realizable value. Prepare the necessary December 31 entry under (a) the cost-of-goods-sold method (b) Loss method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required select "No entry" for the account titles and enter O for the amounts.) Credit (a) Cost of Goods Sold 21,000,000 invent 21,000,00 (b) Loss Due to Decline of Inventory to NRV 21,000,000 in 21,000,000 Click if you would like to Show Work for this question: Open Show Work