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Blossom Limited purchased four articulated robots on account on May 1 , 2 0 2 4 , at an invoice price of $ 5 4

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Blossom Limited purchased four articulated robots on account on May 1,2024, at an invoice price of $546,000. On May 2, it paid $4,09,0 for delivery of the robots. A one-year, $5,500 insurance policy on the robots was purchased on May 3. On May 30, Blossom paid $10,000 for assembly, installation and testing of each robot on a production line. The robots started operating or were ready for use on July 1.
Blossom estimates the useful life of the robots will be four years or 10,000 units with a residual value of $100,000. Assume the robots collectively produce the following numbers of units each year: 1,500 units in 2024; 2,700 units in 2025; 2,600 units in 2026; 2,200 units in 2027; and 1,000 units in 2028. Blossom has a December 31 year end.
(a)
Determine the total cost of the robots.
Cost of the robots $
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