BE$9\mathrm{.}5($LO $2)$ Kumar Inc. uses LIFO inventory costing. At January $1,2020,$ inventory was $$214,000$ at both cost and market value. At December $31,2020,$ the inventory was $$286,000$ at cost and $$265,000$ at market value. Prepare the necessary December $31$ entry under $($a$)$ the cost$-$of$-$goods$-$sold method and $($b$)$ the loss method.