Multiple Choice
When goods are shipped FOB destination and a periodic inventory system is used, the buyer would:
A) debit Freight In for the amount of the transportation charges.
B) debit Delivery Expense for the amount of the transportation charges.
C) make no journal entry for the transportation charges.
D) debit Inventory for the amount of the transportation charges.
Correct Answer:

Verified
Correct Answer:
Verified
Q162: Under a perpetual inventory system, which accounts
Q163: When a discount is taken for prompt
Q164: Gross margin minus operating expenses equals income
Q165: The buyer is responsible for the shipping
Q166: Inventory for a business using the periodic
Q168: Green Company purchased $3,600 of merchandise on
Q169: When the buyer pays the freight costs,
Q170: Details of purchase invoices including shipping
Q171: Inventory held by a business is a(n)_
Q172: A merchandiser purchases inventory on account under