Blossom Company began operations in 2019 and determined its ending inventory at cost and at lower-of-LIFO-cost-or-market at December 31, 2019, 2020 and 2021. This information is presented below.

		Cost		Lower-of-Cost-or-Market
December 31, 2019		$104,400		$85,200
December 31, 2020		120,000		117,600
December 31, 2021		116,400		116,400

Prepare journal entries required at December 31, 2019, 2020 and 2021, assuming that the inventory is recorded at market under a perpetual system (loss method is used). (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Prepare journal entries required at December 31, 2019, 2020 and 2021, assuming that the inventory is recorded at market under a perpetual system (loss method is used). (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
12/31/19	enter an account title for the journal entry on December 31, 2016	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on December 31, 2016	enter a debit amount	enter a credit amount
12/31/20	enter an account title for the journal entry on December 31, 2017	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on December 31, 2017	enter a debit amount	enter a credit amount
12/31/21	enter an account title for the journal entry on December 31, 2018	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on December 31, 2018	enter a debit amount	enter a credit amount