I have 1 more attempt, could really use some help on which accounts to debit and credit.

Pharoah Company began operations in 2016 and determined its ending inventory at cost and at lower-of-cost-or-market at December 31, 2016, and December 31, 2017. This information is presented below. Cost Lower-of-Cost-or-Market $314,890 12/31/16 $333,440 12/31/17 422,600 407,700 (a) Prepare the journal entries required at December 31, 2016, and December 31, 2017, assuming that the inventory is recorded at market, and a perpetual inventory system (cost-of-goods-sold method) is used (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 0 for the amounts. Debit Date Account Titles and Explanation 12/31/16 Cost of Goods Sold T 18,550 Allowance to Reduce 1n T 18,550 12/31/17 Allowance to Reduce Inver T 3,650 T Cost of Goods Sold 3,650