55. When goods are shipped with the term FOB shipping point, the title of the merchandise passes to the buyer: a. when the merchandise is halfway to its destination. b. when the merchandise reaches its destination. c. when the merchandise is ordered. d. when the seller places the merchandise at the point of origin. 56. Under the perpetual inventory system, in addition to making the entry to record a sale, a company would: a. make no additional entry until the end of the period. b. debit Cost of Goods Sold and credit Purchases. c. debit Merchandise Inventory and credit Cost of Goods Sold. d. debit Cost of Goods Sold and credit Merchandise Inventory