FunLand Inc. Is a retailer of toys and games. FunLand's beginning inventory is $192,000 and its purchases during the year are $600,000. Its ending inventory is $72,000. Make the closing entries necessary given that FunLand uses a periodic inventory system. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the entry to close the accounts contributing to the cost of goods sold for the year. Note: Enter debits before credits. Journal entry worksheet Record the entry to create the year-end balance in the inventory account. Note: Enter debits before credits. Journal entry worksheet Record the entry to close the cost of goods sold account to income summary. Note: Enter debits before credits