Multiple Choice
At the year-end inventory count, if goods in transit are shipped FOB shipping point, they should be included in the inventory count of:
A) the seller.
B) the buyer.
C) the shipping company.
D) both the seller and the buyer.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q162: The cost of goods sold is equal
Q163: The cost of goods sold for Uzzi
Q164: Klump Co. uses a perpetual inventory system
Q165: Eli Company sells novelty items and offers
Q166: Explain the relationship between the valuation of
Q168: Ward Company had beginning inventory of $40,000
Q169: Zellenger uses a periodic inventory system and
Q170: Match the costs that might be included
Q171: The following selected financial information is available
Q172: Ending inventory is equal to the cost