The Replacement Costs Have Increased from $5 $\quad$ $\quad$

The replacement costs have increased from $5.60 per unit to $6.20 per unit from the time 200 units of inventory were purchased.The year-end audit found 120 units remaining in stock.What entry is required?

A) Cost of goods sold $\quad$$\quad$$\quad$$\quad$$\quad$ 72
$\quad$ Invertory $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ 72
B) Inventcry $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ 72
$\quad$ Cost of goods sold $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ 72
C) Cost of goods sold $\quad$$\quad$$\quad$$\quad$$\quad$ 48
$\quad$ inventory $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ 48

D) Inventory $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ 48
$\quad$ Cost of goods sold $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ 48
E) Make no entry.