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Prepare the journal entries required at December $31,2025,$ and December $31,2026,$ assuming that the inventory is recorded at LCNRV$,$ and that a perpetual inventory system. Using the cost$-$of$-$goods$-$sold method. $($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. List all debit entries before credit entries. Record journal entries in the order presented in the problem.$)$

Date

Account Titles and Explanation

Debit

Credit

$\frac{12}{31}\frac{?}{25}$

Cost of Goods Sold

Allowance to

$\frac{12}{31}\frac{?}{26}$

$$

$$

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$($c$)$

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