Use the chart provided below to determine the impact if a company forgets to include $3,500 of inventory that was shipped FOB shipping point on December 15,2017 but was still in transit at year end.The purchase invoice was received before year end and appropriately included in the purchases and accounts payable.
Definitions:
Ethical Issue
A dilemma or situation that requires a person or organization to choose between alternatives that must be evaluated as right (ethical) or wrong (unethical).
Ethics
Moral principles that govern a person's behavior or the conducting of an activity.
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