11-26-2009, 05:04 PM
Hi all.
Let's say my inventory balance at the end of year (300909) includes a credit purchase of $5000. the purchase was in transit on 300909, under FOB destination.
Under accrual accounting,
Is there any corrections i need to make for the inventory balance?
Thanks. )
Regards,
Wilson
Let's say my inventory balance at the end of year (300909) includes a credit purchase of $5000. the purchase was in transit on 300909, under FOB destination.
Under accrual accounting,
Is there any corrections i need to make for the inventory balance?
Thanks. )
Regards,
Wilson