Which of the Following Items Should Be Included in Inventory

question 142

Multiple Choice

Which of the following items should be included in inventory at the statement of financial position date?

• A) goods in transit that were purchased FOB destination
• B) goods received from another company for sale on consignment
• C) goods sold to a customer that are being held for the customer to call for at his or her convenience
• D) goods in transit that were purchased FOB shipping point

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Definitions:

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Title Bar

The horizontal bar at the top of a window that displays the name of the application or document being viewed.