On May 1, Doormart received an order from a customer. The goods were shipped FOB shipping point on May 3. The customer received the goods on May 5 and paid for the merchandise on June 1. When should Doormart record the sale

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21-02-2022
Business

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On May 1, Doormart received an order from a customer. The goods were shipped FOB shipping point on May 3. The customer received the goods on May 5 and paid for the merchandise on June 1. When should Doormart record the sale

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abiolataiwo2015 abiolataiwo2015 · Answer 1 · 2022-02-25T11:02:17+01:00

Based on the information given Doormart should record the sale on May 3.

Free on Board Shipping Point

Doormart should record the sales on the day in which the goods were shipped FOB shipping point.

Based on the information given the day in which the goods were shipped FOB shipping point was May 3.

Reason being that buyers tends to take the delivery of the goods, once the goods has be shipped by the seller or once the goods has leave the seller shipping point.

Inconclusion Doormart should record the sale on May 3.

Learn more about Free on Board Shipping Point here:https://brainly.com/question/4423382