Complete the following table to show how FOB terms apply to merchandise inventory purchased by a merchandiser. 
Correct Answer:
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Q22: Which of the following is not recorded
Q32: The Merchandise Inventory account is an expense
Q41: A company purchased inventory for $2,200 on
Q46: The terms of an invoice are 3/10,n/25.This
Q47: A company purchased inventory for $100,000 on
Q50: A company purchased inventory for $2,000 from
Q63: If purchase allowances are granted,the buyer need
Q67: Under the perpetual inventory system,discounts taken on
Q71: Freight in is recorded in the Merchandise
Q72: Under the terms FOB destination,title to the
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