costs of $7,000 were incurred to acquire goods and make them ready for sale. the goods were shipped to the buyer.

Costs of $7,000 were incurred to acquire goods and make them ready for sale. The goods were shipped to the buyer (FOB shipping point) for a cost of $400. Additionat necessary costs of $800 were incurred to acquire the goods. No other incentives or discounts weie available. Compute the buyer's total cost of merchandise inventory. Muttiple Choice $8.700 $7.800 $7,400 57,000