Bonita uses LIFO Inventory costing. At January 1, 2020, Inventory was $370,240 at both cost and market value. At December 31, 2020, the Inventory was $471,120 at cost and $443,040 at market value. Prepare the necessary December 31 entry under (a) the cost-of-goods-sold method and (b) loss method. (Credit account titles are automatically Indented when amount is entered. Do not indent manually) No. Account Titles and Explanation Debit Credit