Describe the differences between FOB shipping point and FOB destination.

If goods are shipped FOB shipping point,ownership transfers to the buyer when the goods depart the seller's place of business,and the seller records revenue at that time.The buyer is then responsible for paying shipping costs and bearing the risk of damage or loss while goods are in transit.If goods are shipped FOB destination,ownership of the goods transfers to the buyer when the goods arrive at the buyer's place of business.The seller is responsible for paying shipping costs and bears the risk of damage or loss in transit.The seller does not record revenue until the goods arrive at the destination because the transaction is not complete before that point.