1explain the terms fob shipping point and fob destination , Ask an Expert

Accounting

1. Explain the terms FOB shipping point and FOB destination. What are the accounting and business implications of the shipping terms? Why is it important to know who owns goods during shipping?

2. What is the difference between freight-in and freight-out?

3. What is the difference between a purchase return and a purchase allowance? What is the effect of purchase returns and allowances on the overall cost of inventory to the buyer?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91608650

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