Question: Ending inventory is equal to the cost of items on hand plus a. merchandise returned to sellers in transit with terms F.O.B. shipping point. b.

Ending inventory is equal to the cost of items on hand plus

a. merchandise returned to sellers in transit with terms F.O.B. shipping point.

b. merchandise in transit sold to customers with terms F.O.B. shipping point.

c. merchandise in transit sold to customers with terms F.O.B. destination.

d. merchandise purchased from buyers in transit with terms F.O.B. destination.

 

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