Asked by
Taylor Alicea
on Oct 15, 2024Verified
If the seller is responsible for paying freight charges,then ownership of inventory passes when goods arrive at their destination.
Freight Charges
Fees associated with the transportation of goods over distance, typically paid by the shipper or receiver.
Inventory Ownership
Refers to having legal title to goods and merchandise stored within a firm's warehouse or storage facility.
- Acquire knowledge on the handling and bookkeeping of merchandise in transit and on consignment.
Verified Answer
PM
Learning Objectives
- Acquire knowledge on the handling and bookkeeping of merchandise in transit and on consignment.