Asked by
Wilfredo Aguila
on Nov 12, 2024Verified
If the buyer bears the freight costs related to a purchase, the terms are said to be FOB destination.
FOB Destination
A shipping term indicating that the seller owns the goods in transit and is responsible for freight charges and any damage until the goods are delivered to the buyer’s location.
Freight Costs
Expenses associated with transporting goods between the vendor and the buyer, which may be borne by either party.
- Acquire knowledge of the assorted terms pertaining to inventory and sales and their implications in the field of accounting.
Verified Answer
KH
Learning Objectives
- Acquire knowledge of the assorted terms pertaining to inventory and sales and their implications in the field of accounting.
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