and risk of loss transfer upon delivery to the customer." Required: 1. Indicate whether ACE's sales terms are FOB shipping point or FOB destination. 2a. Assume ACE sold inventory on account to eCOST. com on December 28 that was to be delivered January 3 . The inventory cost ACE $34,500 and the selling price was $49,000. What amounts, if any, related to this transaction would be reported on ACE's balance sheet and income statement in December? 2b. Assuming the same information from requirement 2a, what amounts, if any, related to this transaction would be reported on ACE's balance sheet and income statement in January? 3. Assume Ace purchased electronics on December 29 that were shipped that day and recelved on January 2 . For these goods to be included in ACE's inventory on December 31, would the terms have been under FOB destination or FOB shipping point? Complete this question by entering your answers in the tabs below. Indicate whether ACE's sales terms are FOB shipping point or FOB destination. and risk of loss transfer upon delivery to the customer." Required: 1. Indicate whether ACE's sales terms are FOB shipping point or FOB destination. 2a. Assume ACE sold inventory on account to eCOST. com on December 28 that was to be delivered January 3 . The inventory cost ACE $34,500 and the selling price was $49,000. What amounts, if any, related to this transaction would be reported on ACE's balance sheet and income statement in December? 2b. Assuming the same information from requirement 2a, what amounts, if any, related to this transaction would be reported on ACE's balance sheet and income statement in January? 3. Assume Ace purchased electronics on December 29 that were shipped that day and recelved on January 2 . For these goods to be included in ACE's inventory on December 31, would the terms have been under FOB destination or FOB shipping point? Complete this question by entering your answers in the tabs below. Indicate whether ACE's sales terms are FOB shipping point or FOB destination