Riverbed Inc. uses LIFO inventory costing. At January 1, 2017, inventory was $211,879 at both cost and market value. At December 31, 2017, the inventory was $287,291 at cost and $270,300 at market 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.)

Brief Exercise 9-5 Riverbed Inc. uses LIFO inventory costing. At January 1, 2017, inventory was $211,879 at both cost and market value. At December 31, 2017, the inventory was $287,291 at cost and $270,300 at market 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 indentmanually. I titles and enter 0 for the amounts.) No. Aocount Titles and Explanation Credit