Coronado Company began operations in 2020 and determined its ending inventory at cost and at LCNRV at December 31, 2020, and December 31, 2021. This information is presented below. Cost Net Realizable Value 12/31/20 $348,240 $322,810 12/31/21 384,450 363,190 Prepare journal entries required at December 31, 2020, and December 31, 2021, assuming that the inventory is recorded at cost and a perpetual system using the loss method is used. (Credit account titles are automatically indented when the 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.) Date Account Titles and Explanation Debit Credit 12/31/20 12/31/21