Which Goods in Transit Would Be Recorded in Inventory at Year

question 123

Multiple Choice

Which goods in transit would be recorded in inventory at year end?

• A)Goods sold with terms F.O.B. destination point that were shipped at year end.
• B)Goods sold with terms F.O.B. shipping point that were shipped before year end.
• C)Goods purchased F.O.B. destination that have not been received by year-end.
• D)Goods returned for credit before year-end, with terms F.O.B. shipping point.