Giant-Mart purchased a large shipment of shoes from Primus, Inc. on credit near the end of its accounting period.
Primus shipped the shoes in January and Giant-Mart received the shoes in February. Assume that Giant-Mart's accounting period ends on January 31, while Giant's accounting period ends on May 31. Answer each independent question in the set that follows.
REQUIRED: Under what shipping terms would Giant-Mart include the shoes as part of inventory on its January 31 balance sheet?

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The Answer of Giant-Mart purchased a large shipment of shoes from Primus, Inc. on credit near the end of its accounting period.
Primus shipped the shoes in January and Giant-Mart received the shoes in February. Assume that Giant-Mart's accounting period ends on January 31, while Giant's accounting period ends on May 31. Answer each independent question in the set that follows.
REQUIRED: Under what shipping terms would Giant-Mart include the shoes as part of inventory on its January 31 balance sheet?

Giant-Mart Purchased a Large Shipment of Shoes from Primus, Inc