Greene Company purchases $5,000 inventory with shipping terms,FOB Columbus.Greene is based in Dayton and the supplier is based in Columbus.The shipping costs are $460.What is the cost of Greene's inventory?
A) $5,000
B) $5,460
C) Either $5,000 or $5,460 is an acceptable amount to assign to inventory cost under GAAP.
D) There is not enough information to calculate inventory cost.
Correct Answer:
Verified
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