AA Company in Guangzhou (seller) sold merchandise to BB Ltd located in Shanghai (Buyer) for $90,000...

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AA Company in Guangzhou (seller) sold merchandise to BB Ltd located in Shanghai (Buyer) for $90,000 under terms of FOB destination point, invoice dated April 28. EMS Courier (China Post Service) was appointed to deliver the merchandise from Guangzhou to Shanghai. On May 1, the merchandise was carried by EMS towards Shanghai, but the EMS's delivery truck was involved in a very serious traffic accident at G60 Highway (Guodao 60) and goods in the vehicle were all destroyed. Please advise, does BB Ltd need to pay $90,000 for the merchandise destroyed in the accident? (Give the reasons to support your answer). (2 marks) Merchandiser uses Periodic Inventory system relies on period physical count to find out ending inventory and work out cost of goods sold for the period. For those companies using Perpetual Inventory system, are they required to do period physical count? Give your explanation. (2 marks) AA Company in Guangzhou (seller) sold merchandise to BB Ltd located in Shanghai (Buyer) for $90,000 under terms of FOB destination point, invoice dated April 28. EMS Courier (China Post Service) was appointed to deliver the merchandise from Guangzhou to Shanghai. On May 1, the merchandise was carried by EMS towards Shanghai, but the EMS's delivery truck was involved in a very serious traffic accident at G60 Highway (Guodao 60) and goods in the vehicle were all destroyed. Please advise, does BB Ltd need to pay $90,000 for the merchandise destroyed in the accident? (Give the reasons to support your answer). (2 marks) Merchandiser uses Periodic Inventory system relies on period physical count to find out ending inventory and work out cost of goods sold for the period. For those companies using Perpetual Inventory system, are they required to do period physical count? Give your explanation. (2 marks)