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Chart of Accounts > Inventory > Flashcards

Inventory Flashcards

Note: If a periodic system is used, Inventory also appears on the IS in the calc of COGS

1
Q

Fundamentals

A

CA, BS, Dr

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2
Q

Ownership

A

FOB Shipping Point - buyer owns goods on public carrier

FOB Destination - Seller owns goods on public carrier

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Chart of Accounts (61 decks)

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