S&C Inc Has the Following LIFO Perpetual Inventory Records

Multiple Choice

S&C Inc. has the following LIFO perpetual inventory records:
The current replacement cost of the ending inventory is $2,400. To apply the lower-of-cost-or-market rule, the journal entry would be:

A) Debit Cost of Goods Sold $900, credit Inventory $900
B) debit Inventory $900, credit Cost of Goods Sold $900
C) Debit Cost of Goods Sold $800, credit Inventory $800
D) debit Inventory $800, credit Cost of Goods Sold $800