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Complete each sentence by selecting the correct term using the drop-down list. Abbey Company completed the annual count of its inventory. During the count, certain items were identified as requiring special
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43 votes
Complete each sentence by selecting the correct term using the drop-down list.

Abbey Company completed the annual count of its inventory. During the count, certain items were identified as requiring special attention. Decide how each item would be handled for Abbey Company's inventory.

items Activities
Goods transit shipped to Abbey (purchaser) FOB Destination
Goods in transit shipped to Abbey (purchaser) FOB Shipping Pont
Goods transit shipped by Abbey (seller) FOU Destination
Goods in transit shipped by Abbey (seller) FOB Shipping Pont

User Imthath
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1 Answer

22 votes
22 votes

Answer:

FOB destination means "Free on Board Destination.

1. Goods transit shipped to Abbey (purchaser) FOB Destination

Answer: Exclude from inventory

2. Goods in transit shipped to Abbey (purchaser) FOB Shipping Point

Answer: Include in inventory count

3. Goods transit shipped by Abbey (seller) FOB Destination

Answer: Include in inventory

4. Goods in transit shipped by Abbey (seller) FOB Shipping Point

Answer: Exclude from inventory

User Cambraca
by
2.8k points
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