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
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