The buyer must include goods purchased FOB shipping point in its Inventory account if the goods are still in transit.

Question

Quizplus · Accepted Answer

According to the FOB shipping point terms, the buyer assumes ownership and responsibility for the goods as soon as they are shipped. Therefore, the buyer should include the purchased goods in their inventory account while they are in transit, as they are now considered their property.

The Buyer Must Include Goods Purchased FOB Shipping Point in Its