There are 3 journal entries, please show all work

Sandhill Company began operations in 2019 and determined its ending inventory at cost and at lower-of-LIFO-cost-or-market at December 31, 2019, 2020 and 2021. This information is presented below. Lower-of-Cost-or- Market Cost December 31, 2019 December 31, 2020 December 31, 2021 $100,920 116,000 112,520 $82,360 113,680 112,520 (a) Prepare the journal entries assuming that the inventory is recorded at market, and a perpetual inventory system (cost-of- goods-sold method) is used. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit 12/31/19 Cost of goods sold Allowance to reduce inventory to NRV 12/31/20 Allowance to Reduce Inventory to NRV Cost of goods sold 12/31/21