A Company Uses Perpetual Inventory in Connection with the Specific-Identification $$\begin{array} { | l | r | r | } \hline \text { Inventory } & 14,400 & \\\hline \text { Cost of goods sold } & & 14,400 \\\hline\end{array}$$

A company uses perpetual inventory in connection with the specific-identification method.The company purchased 30 industrial diamonds for $500 per unit.Later in the month,they purchased another 20 diamonds from another supplier for $480 per unit.On the last day of the month,they sold 18 diamonds to a customer at a price of $800 per unit.Of the 18 diamonds,3 came from the first batch and the remainder came from the second batch.
-Which of the following journal entries correctly records the Cost of goods sold?

A) $$\begin{array} { | l | r | r | } \hline \text { Inventory } & 14,400 & \\\hline \text { Cost of goods sold } & & 14,400 \\\hline\end{array}$$
B) $$\begin{array} { | c | r | r | } \hline \text { Sales revenue } & 14,400 & \\\hline \text { Inventory } & & 14,400 \\\hline\end{array}$$
C) $$\begin{array} { | c | r | r | } \hline \text { Cost of goods sold } & 8,700 & \\\hline \text { Sales revenue } & & 8,700 \\\hline\end{array}$$
D) $$\begin{array} { | l | r | r | } \hline \text { Cost of goods sold } & 8,700 & \\\hline \text { Inventory } & & 8,700 \\\hline\end{array}$$