Presented is information related to Rogers Co. for the month of January 2010. Ending inventory per perpetual records $22,200 Ending inventory actually on hand 21,371 Cost of goods sold 218,690 Freight out 7,190 Insurance expense 12,230 Rent expense 23,400 Salary expense 70,600 Sales discounts 10,970 Sales returns and allowances 13,530 Sales 395,010 Instructions (a) Prepare the necessary adjusting entry for inventory. Description/Account Debit Credit (b) Prepare the necessary closing entries. (For multiple debit/credit entries, list amounts from largest to smallest eg 10, 5, 3, 2.) Description/Account Debit Credit (To close income statement accounts with credit balances.) (To close income statement accounts with debit balances.) (To close net income to capital.) Click here if you would like to Show Work for this