1. At year-end, Barr Company had shipped $12,500 of merchandise FOB destination to Lee Company. Which company should include the $12,500 of merchandise in transit as part of its year-end inventory? 2. Parris Company has shipped $20,000 of goods to Harlow Company, and Harlow Company has arranged to sell the goods for Parris. Identify the consignor and the consignee.

Barr Company should include the $12,500 of merchandise in transit as part of its year-end inventory. The consignor is Parris company and the consignee is Harlow Company.

1. Barr company which is the seller should include the $12,500 of merchandise in transit as part of its year-end inventory because the goods are yet to be delivered to the buyer which is Lee Company as the goods are still in transit.

2. Parris company is the consignor because they are seller while Harlow company is the consignee because they are the buyer.

Inconclusion Barr Company should include the $12,500 of merchandise in transit as part of its year-end inventory. The consignor is Parris company and the consignee is Harlow Company.

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