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Transfer of Title to Inventory

Identify whether the transactions described should be recorded by Cameron Companies during December 2014 (fill in the blank with a D) or January 2015 (fill in the blank with a J).

Purchases of merchandise that are in transit from vendors to Cameron Companies on December 31, 2014.

Shipped FOB shipping point

Shipped FOB destination point

Sales of merchandise that are in transit to customers of Cameron Companies on December 31, 2014.

Shipped FOB shipping point

Shipped FOB destination point

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91624206

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