Rosena's Hat Shop received a shipment of hats for which it paid the wholesaler $2,940. The price of the hats was $3,000, but Rosena's was given a $60 cash discount and required to pay freight charges of $70. In addition, Rosena's paid $100 to cover the travel expenses of an employee who negotiated the pur- chase of the hats. What amount should Rosena's in- clude in inventory? Why?

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