The Bockner Company shipped merchandise

Subject: Business    / General Business    

Question
The Bockner Company shipped merchandise to Laetner Corporation on December 28, 2011. Laetner received the shipment on January 3, 2012. December 31 is the fiscal year-end for both companies. The merchandise was shipped f.o.b. shipping point. Explain the difference in the accounting treatment of the merchandise if the shipment had instead been designated f.o.b. destination.