In the following situation, who owns the inventory while it is in transit? You, the buyer, bought inventory with shipping terms FOB shipping point. Inventory cost $975.

Question 1 options:

1)

the buyer

2)	the seller

3)	both the seller and the buyer

4)	neither the seller nor the buyer

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In the following situation, who owns the inventory while it is in transit? You sell inventory with shipping terms FOB shipping point. The cost of the inventory was $3,500.

Question 2 options:

1)	both the seller and the buyer

2)	the seller

3)	neither the seller nor the buyer

4)

the buyer

In the following situation, who owns the inventory while it is in transit? You are the seller, shipping terms are FOB destination and the cost of inventory was $4,350.

Question 3 options:

1)	both the seller and the buyer

2)	neither the seller nor the buyer

3)

the buyer

4)	the seller

In the following situation, who owns the inventory while it is in transit? As a buyer you ordered inventory with terms FOB shipping point. The cost of inventory was $5,340.

Question 4 options:

1)	both the seller and the buyer

2)

the buyer

3)	the seller

4)	neither the seller nor the buyer

Question 5 options:

The information below reflects all the inventory transactions for one month. Jan. 01 - Balance 70 units @ $14 each Jan. 09 - Purchased 140 units @ $16 each Jan. 18 - Sold 105 units for $28 each Jan. 26 - Purchased 70 units @ $17 each Jan. 30 - Sold 115 units for $30 each

The value of the inventory at the end of the month is