How do i figure out the COGS

Assume that IBM leased equipment that was carried at a cost of $193,000 to Ivanhoe Company. The term of the lease is 6 years beginning December 31, 2024, with equal rental payments of $30,300 beginning December 31,2024 . The fair value of the equipment at commencement of the lease is $151,279. The equipment has a useful life of 6 years with no salvage value. The lease has an implicit interest rate of 8%, no bargain purchase option, and no transfer of title. Collectibility of lease payments for IBM is probable. Prepare IBM's December 31, 2024, journal entries at commencement of the lease. (List all debit entries before credit entries. 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 0 for the amounts. For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answers to 0 decimal places e.g. 5,275.) \begin{tabular}{|c|c|c|c|} \hline Date & Account Titles and Explanation & Debit & Credit \\ \hline \multirow{5}{*}{\begin{tabular}{l} December 31, \\ 2024 \end{tabular}} & Lease Receivable & 151279 & \\ \hline & Cost of Goods Sold & & \\ \hline & Sales Revenue & & 151279 \\ \hline & Inventory & & \\ \hline & (To record the lease) & & \\ \hline \multirow{2}{*}{\begin{tabular}{l} December 31, \\ 2024 \end{tabular}} & Cash & 30300 & \\ \hline & Lease Receivable & & 30300 \\ \hline \end{tabular}