A company that uses the perpetual inventory system sold goods to a customer on account on May $7$ for $$105.$ The company has the following inventory information:

May $1$

Beginning Inventory

$8$ units at $$4$ each

May $4$

Purchase

$10$ units at $$5$ each

May $7$

Sale

$15$ units

The company uses the FIFO method of inventory costing. Which of the following journal entries correctly records the sale on May $7?$

A$.$ Sales Revenue

$\backslash$table$[[105,105],[70,70]]$

B$.$ Accounts Receivable

$105$

Sales Revenue

Cost of Goods Sold

Merchandise Inventory

C$.$ Sales Revenue

$105$

Accounts Receivable

Cost of Goods Sold

$67$

Merchandise Inventory

D$.$ Accounts Receivable

$105$

Sales Revenue

$67$

$105$

Cost of Goods Sold

Merchandise Inventory

$70$

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