A Company Purchased Inventory for $800 Per Unit

Multiple Choice

A company purchased inventory for $800 per unit. The company later sold the inventory for $1,000 per unit. The entries to record the sale for cash and cost of goods sold would include debits to which of the following accounts?

A) Sales, $1,000; Inventory, $800
B) Cash, $1,000; Cost of Goods Sold, $800
C) Cash, $800; Cost of Goods Sold, $1,000
D) Sales, $800; Inventory, $800