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b) Complete the following table to show how FOB terms apply to merchandise inventory purchased by a merchandiser. When does the title to the
b) Complete the following table to show how FOB terms apply to merchandise inventory purchased by a merchandiser. When does the title to the Who pays the FOB Term goods transfer to the buyer? freight? Shipping Point Destination c) Journalize the following transaction for a merchandiser that uses the perpetual inventory system. Sold goods for cash of $1,200 and on account of $800. Total cost $1,500. Omit explanations.
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