Slavton Company uses a periodic inventory system and values its inventory at lower of cost or market. Is unting records indicate the following information relating to inventory Inventory Date January 1, 2017 December 31, 2017 December 31, 2018 Cost 75,000 110,000 140,000 Market S 75,000 80,000 128,000 Prepare the required journal entries at December 31, 2017, and December 31, 2018, to record the inventory at lower of cost or market using the following methods: a. Direct method b. Allowance method