Field Distributors sells merchandise to a variety of retailers. Field uses different LO1 freight terms with its
Question:
Field Distributors sells merchandise to a variety of retailers. Field uses different LO1 freight terms with its various customers and suppliers. All sales are made on account.
Required
For each of the following transactions, indicate which company has ownership of the goods in transit:
a. Field sold merchandise to Clay Boutique, with shipping terms of F.O.B. destination.
b. Field purchased merchandise from Campbell Manufacturing Company, with freight terms of F.O.B. shipping point.
c. Field sold merchandise to Save-A-Lot Stores, with shipping terms of F.O.B. shipping point.
d. Field purchased merchandise from Central Manufacturing Company, with shipping terms of F.O.B. destination.
e. Levinson Stores purchased merchandise from Field, with shipping terms of F.O.B. shipping point.
f. Connor Manufacturing Company sold merchandise to Field, with shipping terms of F.O.B. shipping point.
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