If a purchaser using a perpetual system agrees to freight terms of FOB shipping point, then the carrier will bear the freight cost. ● Inventory account will be increased. seller will bear the freight cost. ● Inventory account will not be affected.
If a purchaser using a perpetual system agrees to freight terms of FOB shipping point, then the carrier will bear the freight cost. ● Inventory account will be increased. seller will bear the freight cost. ● Inventory account will not be affected.
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter9: Sales And Purchases
Section: Chapter Questions
Problem 8QY: If the seller assumes the entire cost of transportation, without any reimbursement from the buyer,...
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