Assume Splish Brothers Inc. uses the periodic inventory system and has a beginning inventory balance of $6700, purchases of $84000, and sales of $130000. Splish 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

a) less than $6700.

b) more than $6700.

c) indeterminate.

d) equal to $6700.