The buyer must include goods purchased F.O.B. shipping point in its inventory account if the...
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Accounting
The buyer must include goods purchased FOB shipping point in its inventory account if the goods are still in transit. True False Under a periodic inventory system, the Purchases account accumulates the cost of the inventory acquired during the period. True False 
The buyer must include goods purchased FOB shipping point in its inventory account if the goods are still in transit.
True
False
Under a periodic inventory system, the Purchases account accumulates the cost of the inventory acquired during the period.
True
False
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