Satoor, Inc.Satoor, Inc., which uses a periodic inventory system, purchased merchandise from Taye Company on July 7 for $15,000. The credit terms were 1/10, n/30. The goods were shipped FOB shipping point on July 7. Satoor, Inc. received the merchandise on July 10 and paid the amount due on July 15.
-Refer to the information provided for Satoor, Inc. When did title to the merchandise transfer from the seller to the buyer?
A) July 7
B) July 10
C) July 15
D) Cannot be determined from the information provided.
Correct Answer:
Verified
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