Examlex
The fifth-character value in the Administrative section of ICD-10-PCS of 7 represents _____.
F.O.B Shipping Point
F.O.B Shipping Point (Free on Board Shipping Point) is a shipping term indicating that the buyer assumes ownership and risk of the goods being shipped as soon as they leave the seller's premises.
Perpetual Inventory Method
An accounting method that records the sale or purchase of inventory immediately through the use of computerized point-of-sale systems and enterprise asset management software.
General Journal Entry
A general journal entry is a record in the general journal that is used to document business transactions according to the double-entry bookkeeping system.
Perpetual Inventory Method
The perpetual inventory method continuously updates inventory records and cost of goods sold every time a transaction occurs.
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