Problem on the goods in transit, Cost Accounting

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Problem on the goods in transit

Goods in transit

Response to the following problem:

Kelly Corporation shipped goods to a customer f.o.b. destination on December 29, 2016. The goods arrived at the customer's location in January. In addition, one of Kelly's major suppliers shipped goods to Kelly f.o.b. shipping point on December 30. The merchandise arrived at Kelly's location in January. Which shipments should be included in Kelly's December 31 inventory?

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Cost Accounting: Problem on the goods in transit

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