Gerald Eiche Company uses a job-order costing system and has the following data available:

Beginning Direct Materials Inventory $26,000

Beginning Work-In-Process Inventory $64,000

Beginning Finished Goods Inventory $58,000

Direct materials purchased on account $148,000

Direct materials requisitioned $82,000

Direct labor cost incurred $130,000

Factory overhead incurred $146,000

Cost of goods completed $292,000

Cost of Goods Sold $260,000

Overhead application rate (based on direct labor cost) 125%

The journal entry to record the cost of goods sold would include a ________.

A) Debit to Finished Goods Inventory for $292,000

B) Credit to Finished Goods Inventory for $260,000

C) Credit to Work-In-Process Inventory for $260,000

D) Credit to Cost of Goods Sold for $292,000

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