During the current month, Grey Company sold 60,000 units for $10 each. Each unit had an equivalent cost of $6 each. The journal entry to record the sale would include which of the following?
a.
Finished Goods600,000
Cost of Goods Sold600,000
b.
Cost of Goods Sold360,000
Finished Goods360,000
c.
Cost of Goods Sold600,000
Finished Goods600,000
d.
Finished Goods360,000
Cost of Goods Sold360,000