When Using a Periodic Inventory System, Which Statement Concerning the Computation

Multiple Choice

When using a periodic inventory system, which statement concerning the computation of cost of goods sold is correct?

A) The amount of ending inventory is determined on the last day of the accounting period.
B) Cost of goods available for sale includes net purchases plus the ending inventory.
C) Purchases represent cash paid for purchases during the accounting period.
D) Freight-in is ignored.