Describe how transportation costs to obtain inventory (freight-in) are accounted for by a merchandising company using a

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Describe how transportation costs to obtain inventory (freight-in) are accounted for by a merchandising company using a perpetual inventory system. Explain the reasoning behind this accounting treatment.

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Fundamentals of Financial Accounting

ISBN: 978-0078025914

5th edition

Authors: Fred Phillips, Robert Libby, Patricia Libby

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Question Posted: Nov 02, 2015 05:38 AM

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Describe how transportation costs to obtain inventory (freight-in) are accounted for by a merchandising company using a

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A general principle is that a purchaser should include in its Inventory account any costs ...View the full answer

Fundamentals of Financial Accounting

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