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How should Spartan Co treat theses goods on December

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Reference no: EM132861194

Problem - Goods in transit, f.o.b shipping point, to Spartan Co. from a vendor on December 31, 2019 were received on January 4, 2020. The invoice cost was $50,000. How should Spartan Co. treat theses goods on December 31, 2019?

Reference no: EM132861194

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