Question

Identifying freight cost

Required
For each of the following events, determine the amount of freight paid by Tom’s Parts House. Also indicate whether the freight is classified as a product or period cost.
a. Purchased inventory with freight costs of $1,400, FOB destination.
b. Shipped merchandise to customers with freight costs of $300, FOB destination.
c. Purchased additional merchandise with costs of $500, FOB shipping point.
d. Sold merchandise to a customer. Freight costs were $800, FOB shipping point.



$1.99
Sales0
Views104
Comments0
  • CreatedOctober 26, 2013
  • Files Included
Post your question
5000