At year-end, the perpetual inventory records of Anderson Co. indicate 60 units of a particular product in inventory, acquired at the following dates and unit costs: Purchased in August: 30 units at $750 per unit. Purchased in November: 30 units at $700 per unit.

A complete physical inventory taken at year-end indicates only 50 units of this product actually are on hand.

Assuming that Anderson uses the LIFO flow assumption, it should record this inventory shrinkage by:

	A.	Debiting Cost of Goods Sold $7,000.
	B.	Crediting Cost of Goods Sold $7,500.
	C.	Debiting Cost of Goods Sold $7,500.
	D.	Crediting Cost of Goods Sold $7,000.