Assume Marigold Corp. uses the periodic Inventory system and has a beginning inventory balance of $5300, purchases of $71000, and sales of $122000. Marigold closes its records once a year on December 31. In the accounting records, the inventory account would be expected to have a balance on December 31 prior to adjusting and closing entries that was equal to $5300 less than $5300 more than $5300 indeterminate