Whispering Inc. uses a perpetual inventory system. As of January 1, 2020, inventory was $210,324,300 at both cost and realizable value. As of December 31, 2020, inventory was $286,877,200 at cost and $270,259,300 at realizable value.

Prepare the required entry as of December 31 under (a) the cost of goods sold method (b) the loss method.