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=Which of the following statements is incorrect? a. Both freight in and freight out affect gross profit b. Freight in appears as part of cost

=Which of the following statements is incorrect? a. Both freight in and freight out affect gross profit b. Freight in appears as part of cost of goods sold under the periodic inbventory system c. Freight out is a shipping expense d. Freight in for the purchaser occurs when the terms of the invoice are FOB Shipping point.

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