ACC 304 All Assignments ACC 304 All Assignments | Page 77

c. Goods that are shipped, but title remains with the shipper.
d. Goods that have been segregated for shipment to a customer.
31.
When using a perpetual inventory system,
a. no Purchases account is used.
b. a Cost of Goods Sold account is used.
c. two entries are required to record a sale.
d. all of these.
32.
be
Goods in transit which are shipped f.o.b. shipping point should