Assume Oriole Company uses the periodic inventory system and has a beginning inventory balance of $6200, purchases of $73000, and sales of $122000. Oriole 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 O equal to $6200. O less than $6200. O indeterminate. O more than $6200