Aguado Corp. purchased merchandise from Agustin Corp., terms FOB shipping point. Which corporation is responsible for the shipping costs? a Aguado Corp. C 2 9D C PA m Augustin Corp. Shipping costs are split evenly. Ancheta Corp. purchased inventory for $63,000 they paid $1,000 to ship the inventory to their warehouse, $6,000 in important duties and GST of $3,500. What amount would be recorded in the cost of inventory by Ancheta? 63,000 64,000 73,500 70,000 Which cost formula requires that the cost allocated to cost of goods sold is based on the oldest inventory in stock? Specific identification a FIFO b C d 4 a lb Weighted average LIFO If inventory is stolen or there is a difference between the accounting records an adjustment is required called: Inventory turnover Adjustment for impairments Direct write.nff.