December 31, 2026. This information is presented below. (a) Prepare the journal entries required at December 31, 2025, and December 31, 2026, assuming inventory is recorded at LCNRV and a perpetual inventory system using the cost-of-goods-sold method. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered, Do not indent manually. If no entry is required, select "No entry" for the account tities and enter O for the amounts. Record journal entrieg in the order presented in the problem.) perpetual system using the loss method. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) (c) Which of the two methods above provides the higher net income in each year? December 31, 2026. This information is presented below. (a) Prepare the journal entries required at December 31, 2025, and December 31, 2026, assuming inventory is recorded at LCNRV and a perpetual inventory system using the cost-of-goods-sold method. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered, Do not indent manually. If no entry is required, select "No entry" for the account tities and enter O for the amounts. Record journal entrieg in the order presented in the problem.) perpetual system using the loss method. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) (c) Which of the two methods above provides the higher net income in each year