We want our product to have a coefficient of 120.
So let's use 60 and 2.
We want our product of the "x" terms to have a final product of x⁻³, so let's use 5 and -8.
And we want our product of the "y" terms to have a final product of y, so let's use 2 and -1.
So one possible solution is:
60x⁵y² · 2x⁻⁸y⁻¹