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In: Accounting

Required For each of the following events, determine the amount of freight paid by The Box...

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.

  1. Purchased inventory with freight costs of $1,900. The goods were shipped FOB shipping point.

  2. Sold merchandise to a customer. Freight costs were $2,200. The goods were shipped FOB shipping point.

  3. Purchased merchandise inventory with freight costs of $2,800. The merchandise was shipped FOB destination.

  4. Shipped merchandise to customers, freight terms FOB destination. The freight costs were $1,700

(Not all cells will require input.)

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ekkarill92 answered 1 month ago
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