Complete the following table to show how FOB terms apply to merchandise inventory purchased by a merchandiser.
Definitions:
Financial Intermediary
An institution that acts as a middleman between savers and borrowers, facilitating the flow of funds in the economy, such as banks or credit unions.
Insurance Companies
Entities that provide financial protection and reimbursement of damages to individuals and businesses in exchange for premiums.
United States Treasury
The department of the federal government responsible for managing national finances, including producing currency, collecting taxes, and issuing government debt.
Monetrary Unit
The standard unit of currency used in a country's monetary system, facilitating the exchange of goods and services.
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