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Transportation costs for inventory purchase, FOB shipping point should be entered as follows: 1. Debit Transportation Out for the purchaser 2. Debit Inventory for the
Transportation costs for inventory purchase, FOB shipping point should be entered as follows: 1. Debit Transportation Out for the purchaser 2. Debit Inventory for the purchaser 3. Debit Delivery Expense for the purchaser 4. Debit Cost of Goods Sold for the purchaser
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Cornerstones of Managerial Accounting
Authors: Mowen, Hansen, Heitger
3rd Edition
324660138, 978-0324660135
