Can I use localhost as the domain when setting an HTTP cookie

$(function() {

    console.log('Testing');

    var one = $.cookie('Test.One');
    var two = $.cookie('Test.Two');
    var three = $.cookie('Test.Three');

    console.log(['one', one]);
    console.log(['two', two]);
    console.log(['three', three]);

    $('#div1').text(one);
    $('#div2').text(two);
    $('#div3').text(three);

    $.cookie('Test.One', 'Test 1');
    $.cookie('Test.Two', 'Test 2', { path: '/' });
    $.cookie('Test.Three', 'Test 3', { path: '/', domain: 'localhost' });

});

var domain = (options.domain && options.domain !== 'localhost') ? '; domain=' + (options.domain) : '';