Physical Inventory Count, Ownership of Goods, and Consigned Goods Video Lessons

Video Thumbnail

Concept

Problem: ABC Company sold merchandise to XYZ Company on 2/27/15 FOB Shipping Point. The goods were shipped on 2/28 and received by XYZ on 3/5. ABC Company will record the sale on: a. 2/27 b. 2/28 c. 3/5 d. ABC can record the sale on any of these dates

FREE Expert Solution
Problem Details

ABC Company sold merchandise to XYZ Company on 2/27/15 FOB Shipping Point. The goods were shipped on 2/28 and received by XYZ on 3/5. ABC Company will record the sale on:

a. 2/27

b. 2/28

c. 3/5

d. ABC can record the sale on any of these dates

Frequently Asked Questions

What scientific concept do you need to know in order to solve this problem?

Our tutors have indicated that to solve this problem you will need to apply the Physical Inventory Count, Ownership of Goods, and Consigned Goods concept. You can view video lessons to learn Physical Inventory Count, Ownership of Goods, and Consigned Goods. Or if you need more Physical Inventory Count, Ownership of Goods, and Consigned Goods practice, you can also practice Physical Inventory Count, Ownership of Goods, and Consigned Goods practice problems.

What is the difficulty of this problem?

Our tutors rated the difficulty ofABC Company sold merchandise to XYZ Company on 2/27/15 FOB S...as low difficulty.

What professor is this problem relevant for?

Based on our data, we think this problem is relevant for Professor Conrad's class at UTSA.