Blue Inc. uses a perpetual inventory system, At January 1, 2020, inventory was $211730700 at both cost and realizable value. At December 31, 2020, the inventory was $282019300 at cost and $261131400 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 for the amounts.) No. Account Titles and Explanation Debit Credit