Metlock Company began operations in 2025 and determined its ending irventory at cost and at LCNRV at December 31, 2025, and December 31,2026 . This information is presented below. (a) Prepare the journal entries required at December 31,2025 , and December 31, 2026, assuming inveritory is recorded at LCNRV and a perpetual imventory system using the cost-of-goods-sold method. (List all ditbit entries before credit entries Credit occount titles are automatically indented when amount is entered. Do not indent manually. If no entry is required select "No entry" for the account titiles and enter Ofor the amounts. Record joumal entries in the order presented in the problem! (b) Prepare journal entries required at December 31, 2025, and December 31,2026, assuming inventory is recorded at LCNRV and a perpetual system using the loss method. (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 dccount tities and enter O for the omounts. Record journal entries in the order presented in the problem.)