Consider the following for the year 2112:

• Inventory, beginning: $87,000
• Inventory, ending: $97,000
• Purchases: $356,000
• Purchases returns: $14,000
• Purchases discounts: $8,000
• Freight-in: $27,000
• Freight-out: $35,000

Assuming all accounts have normal balances, what accounts are credited in the year-end entry to adjust inventory and record cost of goods sold?

Select one:

a.

Freight-In, Purchases Returns, Purchases Discounts

b.

Inventory, Purchases, Freight-In

c.

Purchases, Purchases Returns, Freight-In

d.

Purchases , Freight-In, Freight-Out

e.

Purchases, Freight-In