Jouimalize the entries required to close the accounts. If an amount box does not require an entry, leave it blank. Based on the following data, estimate the cost of ending merchandise inventory using the gross profit method. On the basis of the following data, determine the value of the inventory at the lower of cost or market. Apply lower of cost or market to each inventory item. The assets and llabilities of Thompson Computer Services at March 31, the end of the current year, and its revenue and expenses for the year follow. The capital of the owner was $186,600 at April 1, the beginning of the current year. Me. Thempson invested an additional $16,800 in the business during the year, Prepore a balance sheet for Thompson Computer Services for the current year ended March 31