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The client purchased an inventory FOB shipping point on December 31, 2025. The goods arrived at the client's warehouse on January 2, 2026. On the
The client purchased an inventory FOB shipping point on December 31, 2025. The goods arrived at the client's warehouse on January 2, 2026. On the client's books on December 31, 2025, what should be the correct treatment of the goods purchased? Select answer from the options below Goods are included in the inventory and accounts payable. Goods are excluded in the inventory account and account payable. Goods are included in inventory but excluded in accounts payable. Goods are excluded in the inventory account but included in accounts payable as a liability
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