Swifty Inc, uses LIFO inventory costing. At January 1,2025 , inventory was $214,261 at both cost and market value. At December 31 , 2025 , the inventory was $286,273 at cost and $262,650 at market value. Prepare the necessary December 31 entry under (a) the cost-of-goods-sold method and (b) 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 account tities and enter O for the amounts.)