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  3. Study Set
    Intermediate Accounting Reporting and Analysis Study Set 1
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    Exam 7: Inventories: Cost Measurement and Flow Assumptions
  5. Question
    When Goods Are Shipped FOB Shipping Point, the Seller Retains
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When Goods Are Shipped FOB Shipping Point, the Seller Retains

Question 32

Question 32

True/False

When goods are shipped FOB shipping point, the seller retains economic control until the goods are received by the buyer; therefore, the buyer should not record the goods into inventory until they are received.

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