When counting inventory, a manager discovered that there were four radios missing. Each radio cost $12.00. Which of the following journal entries would be correct when making the inventory adjustment?
A. Debit Inventory $48; Credit Cost of Goods Sold $48
B. Debit Cost of Goods Sold $48; Credit Inventory $48
C. Debit Inventory Shrinkage $48; Credit Inventory $48
D. Debit Inventory $48; Credit Accounts Payable $48