Satoor,Inc. Satoor,Inc. ,which uses a periodic inventory system,purchased merchandise from Taye Company on July 7,2013,for $15,000.The credit terms were 1/10,n/30.The goods were shipped FOB shipping point on July 7,2013.Satoor,Inc.received the merchandise on July 10 and paid the amount due on July 15.
-Refer to the information provided for Satoor,Inc.When did title to the merchandise transfer from the seller to the buyer?
A) July 7
B) July 10
C) July 15
D) Cannot be determined from the information provided.
Correct Answer:
Verified
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