Topic: Holmes Corporation manufactures electronic components for use in many consumer products. Their raw materials are purchased literally from all over the world. Depending on the country involved, purchase terms vary widely. Some suppliers, for example, require full prepayment, while others are content to receive payment within six months of receipt of the goods. Because of this situation, Holmes never closes its books until at least ten days after month end. In this way, it can sort out ownership of goods in transit, and document which goods were received by month end, and which were not. Holmes Corporation was currently working on preparing the financial statements for July. Manya Andre, a new accountant, was asked to record about $70,000 in inventory as having been received before the end of July. She argued that the shipping documents clearly showed that the goods were actually received on August 8th, the current month. Her boss, busy with month-end reports, curtly tells Ann to check the shipping terms. She did so, and found the notation "FOB Destination" on the document. Manya proceeded to record the purchase as of August 8th. To receive full credit, answer both: Did Ms. Andre recording the purchase accurately in the correct year? Why are accountants concerned with the timing in the recording of purchases? Was her boss wanting her to violate an ethical standard here? Explain.