Time left 0:52:24 Question 48 Not yet answered Marked out of 1.00 P Flag question On December 31, Beirut Company has the following amounts in the determination of cost of goods purchased: Purchases $60,000; Freight-in $10,000; Net purchases $48,000; Purchase returns and allowances $7,000; and Cost of goods purchased $58,000. What is the amount of purchase discounts? a. $2,000 b. $3,000 c. $5,000 d. $15,000 4 Final exal Time left 0:45:58 Question 4 Not yet answered Marked out of 1.00 P Flag question If goods have been shipped under FOB destination, which of the following is true? a. The seller must pay the shipping costs b. The seller and the buyer will each pay 50% of the shipping cost. c. Title to the goods will transfer as soon as the goods are shipped d. FOB indicates that a price reduction has been applied to the order. Previous page Next page >