When the physical count of Vaughn Company inventory had a cost of $$4340$ at year end and the unadjusted balance in Inventory was $$4700,$ Vaughn will have to make the following entry:

Income Summary

$360$

Inventory

$360$

Inventory

$360$

Cost of Goods Sold

$360$

Cost of Goods Sold

$4700$

Inventory

$4700$

Cost of Goods Sold

$360$

Inventory

$360$