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(3 Marks) Case #3 Amna Inc has purchased a Machine from Japan and incurred the expenses such as purchase Cost of Machine $ 625,000, Shipping
(3 Marks) Case #3 Amna Inc has purchased a Machine from Japan and incurred the expenses such as purchase Cost of Machine $ 625,000, Shipping Cost $ 12,000, Tax on purchase of machine cost @ 20%, Insurance on Transit $ 5,000, Unloading Charges $1,000, Carriage In words $5,000, Installation Chargers $2,500, Oil and Fuel $ 500, Training and Testing $3,000 and Maintenance Expenses $1500 during the acquisition of the Machine for the company Required: Calculate the Historical (Total) Cost of the Machine
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