Merchandise Shipped FOB Shipping Point on the Last Day of the Year

question 13

Multiple Choice

Merchandise shipped FOB shipping point on the last day of the year should ordinarily be included in

• A) the buyer's inventory balance.
• B) the seller's inventory balance.
• C) neither the buyer's nor seller's inventory balance.
• D) both the buyer's and the seller's inventory balances.

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Definitions:

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