Question
Which of the following items should be included in the clients physical inventory at year-end? a. Merchandise purchased by the client (fob destination terms) that
Which of the following items should be included in the clients physical inventory at year-end?
a. Merchandise purchased by the client (fob destination terms) that was shipped by the supplier on December 28th and received by the client on January 2nd.
b. Merchandise sent to a customer by the client (fob shipping point terms) that was shipped by the client on December 28th and received by the client on January 2nd.
c. Inventory received by the client in December, from a consignor and that has not as of yet been sold.
d. None of the above should be included in the clients inventory.
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