(a) Brandt Company ships merchandise to England Corporation on December 30. The merchandise reaches the buyer on...

Question:

(a) Brandt Company ships merchandise to England on December 30. The merchandise reaches the buyer on January 5. Indicate the terms of sale that will result in the goods being included in
(1) Brandt’s December 31 inventory and
(2) England’s December 31 inventory
(b) Under what circumstances should Brandt Company include consigned goods in its inventory?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...