Question: Distinguish between F O B destination and F O B shipping point
Distinguish between F.O.B. destination and F.O.B. shipping point.
Answer to relevant QuestionsFreight out should be classified as a direct offset to sales, not as an expense. Do you agree? Explain.“Gross profit percentages help in the preparation of interim financial statements.” Explain. An advantage of the perpetual inventory system is that a physical count of inventory is unnecessary. The periodic method requires a physical count to compute cost of goods sold.” Do you agree? Explain. Crowe Metals, Ltd., had the following inventory transactions during the month of March (in British pounds, £):On March 31, a count of the ending inventory was completed, and 4,000 units were on hand. By using the periodic ...An accounting clerk of the Blakely Company absconded with cash and a truck full of electronic merchandise on May 14, 20X4. The following data have been compiled for 20X4: Beginning inventory, January 1 ....... $ ...
Post your question