Examlex
Find the exact value of and
FOB Shipping Point
A term used in shipping agreements indicating that the buyer is responsible for the goods and the cost of shipping as soon as the goods leave the seller's premises.
Goods In Transit
Items being transported from one location to another, which have not yet reached the recipient or destination point.
Purchaser's Inventory
Goods and materials that a business holds for the ultimate goal of resale.
LIFO Conformity Rule
A tax regulation requiring companies that use the Last In, First Out (LIFO) method for tax reporting to also use it for financial reporting.
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