Question
1. At year-end, Barr Co. had shipped $12,500 of merchandise FOB destination to Lee Co. Which company should include the $12,500 of merchandise in transit
1. At year-end, Barr Co. had shipped $12,500 of merchandise FOB destination to Lee Co. Which company should include the $12,500 of merchandise in transit as part of its year-end inventory?
2. Parris Company has shipped $20,000 of goods to Harlow Co., and Harlow Co. has arranged to sell the good for Parris. Identify the consignor and the consignee. Whicy company should include any unsold goods as part of its inventory?
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Principles Of Auditing An Introduction To International Standards On Auditing
Authors: Rick Stephan Hayes, Roger Dassen, Arnold Schilder, Philip Wallage
2nd Edition
0273684108, 978-0273684107
