Malone Company determined its ending inventory at cost and at LCNRV at December 31, 2017 December 31, 2018, and December 31, 2019, as shown below. Cost NRV 12/31/17 $650,000 $650,000 12/31/18 780,000 712,000 12/31/19 905,000 830,000 Instructions (a) Prepare the journal entries required at December 31, 2018, and at December 31, 2019, assuming that a perpetual inventory system and the cost-of-goods-sold method of adjusting to LCNRV is used. (b) Prepare the journal entries required at December 31, 2018, and at December 31, 2019, assuming that a perpetual inventory is recorded at cost and reduced to LCNRV using the loss method. his Material May Be Protected By Copyright Law (Title 17, U.S. Code)