On December 23rd, 2019 Nike shipped goods to REI. The invoice was for $125,000 and specified...

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On December 23rd, 2019 Nike shipped goods to REI. The invoice was for $125,000 and specified FOB shipping point. The goods ar

business accounting

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Answer 1

Answer #1

For 2019 Nike would record $125,000 in revenue because under FOB shipping point revenue is recognized when goods leave the seller shipping Dock.

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On December 23rd, 2019 Nike shipped goods to REI. The invoice was for $125,000 and specified...

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