Under generally accepted accounting principles (GAAP), the appropriate approach for disposing of under or overallocated manufacturing overhead at year-end: Multiple Choice is to write it off to Cost of Goods Sold. O is to promote it to Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold O is to adjust the overhead rate and use this rate to adjust the balances of Work-in-Process Inventory, Finished Goods Inventory and Cost of Goods Sold as well as the job cost record of every job worked on during the year. O depends on the significance of the amount