Giant-Mart Purchased a Large Shipment of Shoes from Primus,Inc

question 222

Essay

Giant-Mart purchased a large shipment of shoes from Primus,Inc.on credit near the end of its accounting period.Primus shipped the shoes in January and Giant-Mart received the shoes in February.Assume that Giant-Mart's accounting period ends on January 31,while Primus' accounting period ends on May 31.Answer each independent question in the set that follows.
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Required
If the shoes are shipped FOB destination point,when should Giant-Mart record the purchase? If the shoes are shipped FOB shipping point,when should Giant-Mart record the purchase?

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Definitions:

National Labor Relations Board

An independent federal agency in the United States tasked with enforcing US labor law in relation to collective bargaining and unfair labor practices.

Union Avoidance

Strategies and practices employed by companies to prevent employees from joining or forming labor unions.

Representation Election

A formal process in which employees vote to decide whether they wish to be represented by a union.

Bargaining Representative

A person or entity designated to negotiate on behalf of a group during collective bargaining processes.