Westcom Corporation's Goods in Transit at December 31 Include (1)

question 60

Multiple Choice

Westcom Corporation's goods in transit at December 31 include (1) sales made FOB destination, (2) sales made FOB shipping point, (3) purchases made FOB destination, and (4) purchases made FOB shipping point.Which items should be included in Westcom's inventory at December 31?

• A)(2)and (3)
• B)(1)and (4)
• C)(1)and (3)
• D)(2)and (4)

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Definitions:

Baseball Games

Competitive sporting events featuring two teams that take turns batting and fielding, governed by a set of rules.

Grocery Bills

The total amount of money spent on purchasing food and other items from a grocery store.

Bank Statement

A summary of financial transactions that occurred over a period on a bank account.

Checking Account

A bank account that allows the holder to deposit and withdraw money, and write cheques for payment.