The trial balance of Westmeadow Weightlifting contains the following account balances at 30 June.

Westmeadow Weightlifting Trial balance as at 30 June
Account	Debit	Credit
Inventory	$131,980
Walter Westmeadow, drawings	80,440
Sales	$2,055,160
Sales returns and allowances	37,620
Discount allowed	6,660
Cost of sales	1,314,910
Freight inwards	23,630
Discount received	4,610
Selling and distribution expenses	333,810
Administrative expenses	200,733
Other finance expenses	38,220

Prepare the closing entries under the perpetual inventory system.