Merchandise that has been shipped by a supplier but the merchandise has not yet reached the
customer’s location. Goods in transit that were shipped FOB Shipping Point should be included
in the customer’s purchases and inventory. Goods in transit that were shipped FOB Destination
should be reported in the supplier’s inventory.
Join PRO or PRO Plus and Get Lifetime Access to Our Premium Materials
Read all 2,866 reviewsFeatures
PRO
PRO Plus
For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.
Read 2,866 Testimonials
