Koppell Co

Koppell Co. made the following errors in counting its year-end physical inventories:

The entry to correct the accounts at the end of 2011 is

A) Retained Earnings ................... 48,000 Cost of Goods Sold .................. 42,000
Inventory ........................ 90,000
B) Retained Earnings ................... 18,000 Cost of Goods Sold .................. 72,000
Inventory ........................ 90,000
C) Inventory .......................... 90,000 Cost of Goods Sold ............... 18,000
Retained Earnings ............... 72,000
D) Cost of Goods Sold .................. 198,000 Retained Earnings ................ 108,000
Inventory ........................ 90,000