Accounting Question

timer Asked: Nov 7th, 2016

Question description

Hawk Distributing regularly transacts business with Beluga Industries, which is a customer, and Matthew Enterprises, which is a supplier. As of December 31, Hawk has three shipments in transit—one FOB destination shipment to Beluga, one FOB destination shipment from Matthews, and one FOB shipping point shipment from Matthews. Which of these shipments is part of Hawk’s December 31 inventory?

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