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    Financial and Managerial Accounting Study Set 8
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    Exam 8: Inventories and the Cost of Goods Sold
  5. Question
    Goods in Transit Between the Buyer and the Seller Belong
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Goods in Transit Between the Buyer and the Seller Belong

Question 141

Question 141

Multiple Choice

Goods in transit between the buyer and the seller belong to:


A) The seller.
B) The buyer.
C) The freight company.
D) The answer depends upon whether the goods were shipped F.O.B.shipping point or F.O.B.destination.

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