Marigold Inc. uses a perpetual inventory system. At January 1, 2017, inventory was $215,774,800 at both cost and realizable value. At December 31, 2017, the inventory was $285,178,200 at cost and $265,331,200 at realizable value.

Prepare the necessary December 31 entry under (a) the cost-of-goods-sold method (b) Loss method.