The Boxcar Company shipped inventory to Depot Corporation on December 28, 2024. Depot received the shipment on
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The Boxcar Company shipped inventory to Depot Corporation on December 28, 2024. Depot received the shipment on January 3, 2025. December 31 is the fiscal year-end for both companies. The inventory was shipped f.o.b. shipping point. Explain the difference in the accounting treatment of the inventory if the shipment had instead been designated f.o.b. destination.
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