At the end of the year, Demoss Company's merchandise inventory account has a balance of $86,000. A physical count shows inventory costing $79,600 on hand. DeMoss Company uses a perpetual inventory system Jones Company will record the following journal entry: Multiple Choice o Sales Cost of goods sold 6,400 6,400 o Purchase discounts Merchandise inventory 6,400 6,400 o Cost of goods sold Merchandise inventory 6,400 6,400 o Merchandise inventory Cost of goods sold 6,400 6,400 o Inventory shrinkage expense Merchandise inventory 6,400 6,400