Which of the following accounts should be closed to Income Summary at the end of the fiscal year?

Question

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Cost of Goods Sold (COGS) is an expense account that is closed to the Income Summary at the end of the fiscal year to calculate the net income or loss of a business. Inventory and Accumulated Depreciation are balance sheet accounts and are not closed to the Income Summary. Dividends are distributions to shareholders and are not closed to the Income Summary but directly to Retained Earnings.

Which of the Following Accounts Should Be Closed to Income