Question
FOB shipping point. Hi Need help with this entry! Kindly provide workings! Will give a thumbs up :) thanks alot! I am recording entry from
FOB shipping point. Hi Need help with this entry! Kindly provide workings! Will give a thumbs up :) thanks alot!
I am recording entry from view point of seller (ABC Notebooks Ltd)
A customer (XYZ Notebook Ltd) ordered 3000 notebooks @ $18 per notebook, payment terms on 10/45, n/90. ABC Notebooks Ltd uses FOB Shipping point shipping terms, XYZ Notebook Ltd will pay for the shipping. Later in the afternoon, ABC Notebooks Ltd send the notebooks via DHL, paying DHL the shipping cost of $500 which was then included in the invoice to XYZ Notebook Ltd. Expected delivery is 8 May and cost of good sold is $5 per notebook
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