If the ownership of merchandise passes to the buyer when the seller ships the merchandise, the terms are stated as FOB destination.
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Q1: Under a periodic inventory system, the merchandise
Q2: In accounting for inventory, the assumed flow
Q4: Under the periodic inventory system, both the
Q5: If prices never changed, then there would
Q8: Goods in transit shipped FOB shipping point
Q9: The specific identification method of costing inventories
Q9: When the terms of sale are FOB
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Q11: The specific identification method of inventory valuation
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