F.O.B. Shipping Point
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Description
The buyer of goods bears the cost of transportation from the seller's location to the buyer's location. Title to the goods passes at the point of shipment, and the goods are the property of the buyer while in transit.
Concept Prerequisite
Wikipedia Reference
http://en.wikipedia.org/wiki/FOB (shipping)
Learning Material
Covered in Topic(s)
| Inventories & the COGS |