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Glenrosa Company bought inventory from Monterosa Company, FOB destination. On December 31, the last day of the accounting year, the goods were on a truck
Glenrosa Company bought inventory from Monterosa Company, FOB destination. On December 31, the last day of the accounting year, the goods were on a truck owned by Common Carrier, Inc., and not expected to arrive until January 2. Which company should include these goods in its December 31 inventory?
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Monterosa
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None of them should include these goods in inventory.
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Common Carrier
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Glenrosa
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