Use This Information to Answer the Following Question

question 157

Multiple Choice

Use this information to answer the following question. A periodic inventory system is used.
-Cost of goods sold under the average-cost method is

• A)$444.
• B)$333.
• C)$435.
• D)$222.

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Definitions:

Ratification

The act of formally confirming or approving an agreement, treaty, or contract, making it officially valid.

Principal

The amount of money originally invested or loaned, upon which interest and other charges are calculated.

Unauthorized Act

An action taken by an individual or entity without proper authority or permission, potentially leading to legal consequences.

Agent

An individual or entity authorized to act on behalf of another, often in business or legal matters.