In: Accounting
Required
For each of the following events, determine the amount of freight paid by The Box Company. Also indicate whether the freight cost would be classified as a product or period (selling and administrative) cost.
Purchased inventory with freight costs of $1,900. The goods were shipped FOB shipping point.
Sold merchandise to a customer. Freight costs were $2,200. The goods were shipped FOB shipping point.
Purchased merchandise inventory with freight costs of $2,800. The merchandise was shipped FOB destination.
Shipped merchandise to customers, freight terms FOB destination. The freight costs were $1,700
(Not all cells will require input.)