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A company purchases inventory and incurs the following costs: the cost of the merchandise is $60,000, credit terms are 1/10, n/30; FOB shipping point freight
A company purchases inventory and incurs the following costs:
the cost of the merchandise is $60,000, credit terms are 1/10, n/30;
FOB shipping point freight charges are $1,100;
insurance during transit is $750;
assembly cost of $800: and
advertising costs of $1,200 for the sale of the inventory
If the company paid within the discount period, the cost that should be assigned to inventory is $
(I dont need explanation just answer)
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