Selected accounts and amounts appear below. Journalize the closing entry, assuming a perpetual inventory system. 
Definitions:
Oligopolistic Industry
An industry characterized by a small number of firms that have significant control over market prices and where strategic interactions among these firms determine market dynamics.
Herfindahl Index
The Herfindahl Index is a measure of market concentration used to evaluate the level of competition within an industry, calculated as the sum of the squares of each firm's market share.
Four-Firm Concentration Ratio
An economic measure that assesses the concentration and competitive landscape of an industry by adding the market shares of the four largest firms.
Merged
The combining of two or more entities into one, through acquisitions or consolidations.
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