A company that uses the perpetual inventory system purchased 500 pallets of industrial soap for $10,000 and paid $750 for the freight-in. The company sold the whole lot to a supermarket chain for $14,000 on account. The company uses the specific-identification method of inventory costing. Which of the following entries correctly records the cost of goods sold?

A.

Cost of Goods Sold	10,750
Merchandise Inventory		10,750

B.

Cost of Goods Sold	10,000
Sales Revenue		10,000

C.

Cost of Goods Sold	10,000
Merchandise Inventory		10,000

D.

Merchandise Inventory	10,750
Cost of Goods Sold		10,750