Januray 21, 2022 Problem/Question #6 - Free on Board (5 points) When goods are purchased the seller and buyer must come to an agreement on how the goods will be delivered, which company will pay the freight costs, which company will pay the insurance premiums while the goods are in transit. Required: Pots & Pans, Inc. sold to Kitchen Supplies under the terms Free on Board (FOB) Shipping Point. The goods were put on the truck by Pots & Pans on January 28th and the good were received by Kitchen Supplies on February 5th. A. Which company is responsible for the freight costs and insurance premiums while the goods are in transit? Pots & Pans or Kitchen Supplies? (Circle the correct answer) B. On what date can Pots & Pans record the Sale? e can Pots & Pa C. On what date can Kitchen Supplies include the shipment in Inventory? D. If Pots & Pans conducts its annual inventory count on January 31st, can Pots & Pans include the shipment in its Inventory? Yes? Or No? (Circle the correct answer) 7