Download file: http://people.highline.edu/mgirvin/ExcelIsFun.htmThis is a Business Mathematics Class (Busn Math 135) taught by Mike excelisfun Girvin at Highline Community College.1. FOB = Free On Board2. FOB Destination = Seller retains ownership of goods until they reach the destination. At Destination ownership of goods transfers to Buyer. Seller pays shipping charges. Because Seller owns goods during shipment, if they are damaged, Shipper records a loss.3. FOB Shipping Point = Ownership of goods transfers to Buyer prior to shipment (usually when goods are handed to shipping company).Buyer pays shipping charges. Because Buyer owns goods during shipment, if they are damaged, Buyer records a loss.4. COD = Cash on delivery: Payment for goods is made when items are delivered.5. FAS = Free alongside: Goods are delivered to the dock with all freight charges paid, any remaining charges are paid by Buyer.6. Note: = Some Businesses will record Shipping on Sales Invoice and some will not (shipping bill comes separately).
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