Sarasota Enterprises Ltd$.\text{'}$s records reported an inventory cost of $ $56,500$ and a net realizable value of $ $52,100$ at December $31,2021$ At December $31,2022,$ the records indicated a cost of $ $70,700$ and a net realizable value of $ $60,500.$ All opening inventory had been sold during the year. $($a$)$ Your answer is correct. Assuming that Sarasota Enterprises uses a perpetual inventory system, prepare the December $31,2022$ entry that is needed under the direct method and the indirect method. $($Credit account titles are automatically indented when the 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. List all debit entries before credit entries.$)$Assume that at December $31,2023,$ the records show inventory with a cost of $ $60,900$ and a net realizable value of $ $62,800.$ Prepare the December $31,2023$ entry that is needed under the direct method and the indirect method. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.$)$