Definitions of FOB shipping point and FOB destination
A computer manufacturing company sells its products and
ships them across the country. It usually takes 5 days from the time a
computer is shipped to the time it is delivered to the customer. During the
transportation time, is the shipped computer still seller's inventory or already
buyer's inventory?
The reason this question is important is because it
determines when the manufacturing company, the seller, can recognize sales
revenue and cost of goods sold. On the other side, the answer also dictates
when the buyer can record the purchased inventory.
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