Answer:
the journal entry to record this adjustment would be:
December 31, 202x, adjustment to merchandise inventory
Dr Accounts payable 3,090
Cr Merchandise inventory 3,090
When goods are purchased FOB destination, the title of the goods passes only after the goods have been delivered to the buyer. Also, freight costs should be paid by the seller. When goods are purchased FOB shipping point, the title of the goods passes after the goods leave the seller's dock, they are considered property of the buyer even if they haven't arrived yet. Freight costs are generally paid by the buyer.
