A company that uses the perpetual inventory system purchased 500 pallots of industrial soap for $12,000 and paid so00 for the freight -in The company sold the whole lot to a supermarket chain for $15,000 on account The company uses the specific- identification method of inventory costing Which of the following entries corectly recerds the cost of goods sold? OA. Cost of Goods Sold Merchandise Inventory 12.800 12.000 OB. Cost of Goods Sold 12.000 Sales Revenue 12.000 OC. Cost of Goods Sold Merchandise Inventory 12,000 12.000 O D. Merchandise Inventory Cost of Goods Sold 12.800 12.800