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During the execution phase, the project manager discovered that the testing phase is dependent on completion of the vendor's tasks. The project team has just informed the project manager their activities are almost complete, and they would like permission to begin testing. The vendor is not scheduled to deliver the products for two months. Which of the following should have occurred to prevent this issue?
Freight-In
The cost associated with transporting goods into a warehouse or business, typically included in the cost of goods sold (COGS).
Beginning Inventory
refers to the value of inventory on hand at the start of an accounting period.
Purchase Discounts
Reductions in price given by a supplier to a buyer for prompt payment of their invoice.
Unearned Revenue
Money received by a business for goods or services yet to be delivered or performed; it is recorded as a liability on the balance sheet.
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