In the following situation, who owns the inventory while it is in transit? You buy inventory with shipping terms FOB shipping point. The cost of inventory was $6,570.

Question 1 options:

1)	the seller

2)	both the seller and the buyer

3)

the buyer

4)	neither the seller nor the buyer

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 2 options:

1)

the buyer

2)	the seller

3)	both the seller and the buyer

4)	neither the seller nor the buyer

In the following situation, who owns the inventory while it is in transit? As a buyer you ordered inventory with terms FOB destination. The cost of inventory was $4,675.

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? You buy inventory with shipping terms FOB destination. The cost of inventory was $8,750.

Question 4 options:

1)	neither the seller nor the buyer

2)

the buyer

3)	both the seller and the buyer

4)	the seller

The information below reflects all the inventory transactions for one month. July 01 - Balance 190 units @ $10 each July 10- Purchased 380 units @ $9 each July 17- Sold 285 units for $20 each July 22- Purchased 190 units @ $8 each July 30- Sold 325 units for $20 each The value of the inventory at the end of the month ?????