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Tidwell Company's Goods in Transit at December 31 Include Sales

Question 207

Multiple Choice

Tidwell Company's goods in transit at December 31 include sales made (1) FOB destination
(2) FOB shipping point
And purchases made
(3) FOB destination
(4) FOB shipping point.
Which items should be included in Tidwell's inventory at December 31?


A) Sales made FOB shipping point and purchase made FOB destination
B) (1) and (4)
C) (1) and (3)
D) (2) and (4)

Correct Answer:

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