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Merchandise Shipped FOB Shipping Point on the Last Day of the Year

Question 73

Multiple Choice

Merchandise shipped FOB shipping point on the last day of the year should be included in:


A) the inventory balance of the seller.
B) the inventory balance of the buyer.
C) neither the inventory balance of the buyer or the seller.
D) both the inventory balance of the buyer and the seller.

Correct Answer:

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