Oriole Inc. uses a perpetual inventory system. At January 1,2020 , inventory was $215,464,100 at both cost and realizable value. At December 31,2020 , the inventory was $291,500,300 at cost and $268,031,000 at realizable value. Prepare the necessary December 31 entry under (a) the cost-of-goods-sold method (b) Loss method. (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.)