Question 18 2 pts Alex Inc. purchases inventory on terms of FOB destination. This implies that Alex has to bear all shipping costs for inventory purchased. True False Question 17 2 pts In a periodic inventory system, cost of goods sold is recorded just before financial statements are produced True False Question 16 2 pts Specific identification is difficult to apply unless easily distinguishable differences exist between similar inventory items. O True False Question 15 Under periodic inventory system, the cost of transporting inventory is an increase to the inventory account. True False