Blue Inc. uses a perpetual inventory system. At January 1, 2020, inventory was $211,730,700 at both cost and realizable value. At December 31, 2020, the inventory was $282,019,300 at cost and $261,131,400 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.) No. Account Titles and Explanation (a) (b) Debit Credit

Blue inc uses a perpetuat inventory system At January 1,2020 , inventory was $211,730,700 at both cost and realizable value. At December 31,2020 , the inventory was $282,019,300 at cost and \$261,131,400 at reallirable value Prepare the necessary December 31 entry under (a) the cost- t-goods-sold method (b) Loss method. (Credit occount titles are outomotically indented when amount is entered. Do not indent mahually. If no entry is required, select "No entry" for the account bitles and enter Ofor the amounts )