Question
Good Day! Can somebody explain why the asset is overstated on below statement. Alpha sold merchandise to Beta on credit with terms F.O.B. Destination. As
Good Day!
Can somebody explain why the asset is overstated on below statement.
"Alpha sold merchandise to Beta on credit with terms F.O.B. Destination. As of December 31, the merchandise had not yet been received by Beta. Alpha recorded the sale and did not count the merchandise in ending inventory (periodic system). "
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
6th edition
978-0077328894, 71313974, 9780077395810, 77328892, 9780071313971, 77395816, 978-0077400163
