19) Axle Inc. purchases inventory from Nutria Company and then Axle sells it to

Question

19) Axle Inc. purchases inventory from Nutria Company and then Axle sells it to 19) Chang Company. Inventory is in transit on the last day of the year. Indicate who owns the inventory by placing an "X" in the proper column for each item that is described. Owned by Owned by Owned by Axle Description Nutria Terms of purchase were FOB destination Terms of purchase were FOB shipping point Terms of sale were FOB destination Terms of sale were FOB Chang Not applicable Not applicable Not applicable Not applicable shipping point

Explanation / Answer

Nutria Axle Chang Terms of purchase were FOB destination X Terms of purchase were FOB Shipping point X Terms of Sale were FOB destination X Terms of Sale were FOB Shipping point X

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