The information presented below is for MRW Inc., which began operations in $2024.$ At the end of fiscal year $2024$ and fiscal year $2025,$ the company determined its ending inventory at cost and at LCNRV$.$

On December $31,2024,$ the company determined ending inventory at cost$,$ $$824,550,$ and at NRV$,$ $$811,260.$

On December $31,2025,$ the company determined ending inventory at cost$,$ $$838,400,$ and at $NRV,$$$853,700.$

Required: Prepare the journal entries assuming that inventory is recorded at ICNRV and that MRW Inc, uses a perpetual inventory system and the Cost$-$of$-$Goods$-$Sold Method. If $"$No Entry" is needed, please indicate $"$No Entry".

a$.$ Prepare the journal entry required at December $31,2024.$

$\backslash$table$[[$Reference:$,$Account Title:,Debit:,Credit:$],[\frac{12}{31}/2024,$type your answer..,type your answer.,type your answer.$],[,$type your answer...,type your answer.,type your answer.$]]$

b$.$ Prepare the journal entry required at December $31,2025.$

$\backslash$table$[[$Reference:$,$Account Title:,Debit:,Credit:$],[\frac{12}{31}/2025,$type your answer...,type your answer.,type your answer.$],[,$type your answer...,type your answer.,type your answer.$]]$

Required: Prepare the journal entries assuming that inventory is recorded at LCNRV and that AVW Inc., uses a perpetual inventory system and the Loss Method. If $"$No Entry" is needed, please indicate $"$No Entry".

c$.$ Prepare the journal entry required at December $31,2024.$

$\backslash$table$[[$Reference:$,$Account Title:,Debit:,Credit:$],[\frac{12}{31}/2024,$type your answer...,type your answer.,type your answer.$],[,$type your answer...,type your answer.,type your answer.$]]$

d$.$ Prepare the journal entry required at December $31,2025.$

$\backslash$table$[[$Reference:$,$Account Title:,Debit:,Credit:$],[\frac{12}{31}/2025,$type your answer...,type your answer.,type your answer.$],[,$type your answer...,type your answer.,type your answer.$]]$

Required: Answer the following question.

e$.$ Which of the two methods above provides the higher net income in each year?

type your answer

Refer to the photo, thats all the information that was provided.