Feefo Company in Fifo Illinois ships $10,000 of merchandise by common carrier to the Leef Company in Lifo Louisiana with terms of 1/10, n/30, FOB Lifo, Louisiana on November 30th. It takes seven days for the merchandise to arrive in Lifo Louisiana. Both Feefo and Leefo prepare monthly financial statements.

a. When is the merchandise the property of Leefo Company? How did you make this determination?

b. When does the clock start ticking on the chance to take the purchase discount for Leefo?

c. What is the amount of the purchase discount?

d. Can Feefo Company consider this a sale on November 30^th? Why or why not?