Which goods in transit would not be recorded in the buyer's inventory at year end?
A)Goods purchased with terms F.O.B. destination point that were received at year end.
B)Goods purchased with terms F.O.B. shipping point that were received at year end.
C)Goods purchased with terms F.O.B. destination point that were received after year end.
D)Goods purchased F.O.B. shipping point that were lost in shipment.

Question

Quizplus · Accepted Answer

Goods purchased with terms F.O.B. destination point are not recorded in the buyer's inventory until they are received. If they are received after year end, they are not included in the year-end inventory.

Which Goods in Transit Would Not Be Recorded in the Buyer's