Goods in transit should be included in the inventory of the buyer when the

Name: Goods in transit should be included in the inventory of the buyer when the
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Goods in transit should be included in the inventory of the buyer when the terms of sale are FOB (Free On Board) shipping point. This means that ownership of the goods transfers to the buyer as soon as the seller ships the goods, making them the buyer's responsibility and part of their inventory from that point onwards.

Goods in Transit Should Be Included in the Inventory of the Buyer