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Exercise 5-2 Inventory costs L.O. C2 Duke Associates, antique dealers, purchased the contents of an estate for $37,500. Terms of the purchase were FOB shipping

Exercise 5-2 Inventory costs L.O. C2 Duke Associates, antique dealers, purchased the contents of an estate for $37,500. Terms of the purchase were FOB shipping point, and the cost of transporting the goods to Duke Associates

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