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Goods in transit at the end of an accounting period should always be included in the seller's ending inventory may be included in the buyer's

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Goods in transit at the end of an accounting period should always be included in the seller's ending inventory may be included in the buyer's or seller's inventory depending on the shipping terms, i.e. FOB destination or FOB shipping point should always be included buyer's ending inventory should be disregarded by both the buyer and seller

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