Question
Hi I need the below questions answered ASAP before 10:00 for MBA 560 financial and managerial accounting. 1. When inventory is shipped from the seller
Hi I need the below questions answered ASAP before 10:00 for MBA 560 financial and managerial accounting.
1. When inventory is shipped from the seller to the buyer with shipping terms of FOB destination:
A. the goods will be included in the inventory of the seller until they reach their destination.
B. the goods will be included in the inventory of the buyer and the seller while they are in transit.
C. title passes from the seller to the buyer when the goods leave the seller's shipping dock.
D. the buyer owns the goods while they are in transit.
2. Company A has inventory out on consignment and held for sale by Company B. Which Company will include the goods in their inventory?
A. Company A
B. Company B
C. Either Company A or Company B
D. Cannot be determined from the facts
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