a) Jovad Company ships merchandise to Martin Company on December 30. The merchandise reaches the buyer on

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a) Jovad Company ships merchandise to Martin Company on December 30. The merchandise reaches the buyer on January 6. Indicate the terms of sale that will result in the goods being included in
(1) Jovad’s December 31 inventory,
(2) Martin’s December 31 inventory.
(b) Under what circumstances should Jovad Company include consigned goods in its inventory?

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Accounting Principles

ISBN: 978-1118875056

12th edition

Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso

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