Question 2 (1 point)

In the following situation, who owns the inventory while it is in transit? You are the seller, shipping terms are FOB shipping point and the cost of inventory was $1,570.

Question 2 options:

1)	the seller

2)	neither the seller nor the buyer

3)	both the seller and the buyer

4)

the buyer

Question 5 (2 points)

Question 5 options:

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 is

. Enter digits only, no dollar signs, commas, or decimal points.