Which of the Following Statements Is Correct

Multiple Choice

Which of the following statements is correct?

A) Cost of goods available for sale is allocated between costs of goods sold and inventory at year-end.
B) A purchase of inventory on credit increases both cost of goods available for sale and cost of goods sold.
C) Purchases of inventory during a period less that period's cost of goods sold equals ending inventory regardless of the beginning inventory amount.
D) Cost of goods available for sale equals ending inventory plus purchases.