Who wins?  Explain your reasoning using language and concepts regarding F.O.B terms and risk of loss.

Griswold's, Incorporated (GI), began operations in January, selling inexpensive sunglasses to large retailers like Walgreens and other smaller stores. Assume the following transactions occurred during its first six months of operations. January 1 Sold merchandise to Walgreens for $29,000; the cost of these goods to GI was $20,100. February 12 Received payment in full from Walgreens. March 1 Sold merchandise to Bravis Pharmaco on account for $3,900; the cost of these goods to GI was $1,850. April 1 Sold merchandise to Tony's Pharmacy on account for $8,900. The cost to GI was $4,850. May 1 Sold merchandise to Anjuli Stores on account for $2,900; the cost to GI was $1,650. June 17 Received $6,950 on account from Tony's Pharmacy. Required: 1. Complete the following aged listing of customer accounts at June 30. 2. Estimate the Allowance for Doubtful Accounts required at June 30 assuming the following uncollectible rates: one month, 1 percent; two months, 5 percent; three months, 20 percent;…

Chipolo sells a coin-sized tracking tag that attaches to keys, wallets, and other personal items. Chipolo began January with an inventory of 200 tags purchased from its supplier in November last year at a cost of $12 per tag, plus 100 tags purchased in December last year at a cost of $15 per tag. Chipolo sells the tags at a price of $30 per tag, on account with terms n/30, FOB destination. Chipolo uses a perpetual inventory system to account for the following transactions.   Jan.   8   Chipolo gave 250 tags to a courier company (FedEx) to deliver to customers. Jan.   9   FedEx confirmed that all 250 tags were delivered today to customers. Jan.   11   Chipolo ordered 350 tags from its supplier. The supplier was out of stock but promised to send them to Chipolo as soon as possible. Chipolo agreed to a cost of $21 per tag, n/30. Jan.   17   Chipolo received cash payment from customers for 125 of the tags delivered 8 days earlier. Jan.   21   The 350 tags ordered on January 11…

Running Data began operations on February 1 The company produces GPS watches designed for runners. On February 15, the company purchased 2,700 DVD discs to include with each running watch it sells. The DVD is preloaded with product setup information, an instruction manual including video examples, and warranty details. Each disc cost Running Data $7. During February, 250 discs were taken from the raw materials inventory. Of these, 90 were taken by the sales manager to sales meetings with prospective retailers to carry the watches and handed out as advertising. The remaining discs were included with the GPS watches that were being manufactured in February. Of the watches that were bundled with the discs during February. 70% were completed and transferred from work in process to finished goods. Of the watches completed during the month, 50% were sold and shipped to customers. Required: 1. Determine the cost of discs that would be in each of the following accounts at February 28 a Raw…