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Alpha made a credit sale of $4,000 to a customer with terms FOB Destination. Alpha uses the perpetual inventory system and has a gross profit
Alpha made a credit sale of $4,000 to a customer with terms FOB Destination. Alpha uses the perpetual inventory system and has a gross profit percent of 25%. All of the merchandise was shipped and received by the customer at the end of the year. What should be recorded?
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Since the terms are FOB Destination the ownership of the goods transfers from Alpha to the ...
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Fundamental Accounting Principles
Authors: John J Wild, Ken Shaw
25th Edition
1260247988, 978-1260247985
