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Grab Manufacturing Co. purchased a 10-ton draw press at a cost of $179,000 with terms of 2/15, n/45. Payment was made within the discount period.
Grab Manufacturing Co. purchased a 10-ton draw press at a cost of $179,000 with terms of 2/15, n/45. Payment was made within the discount period. Shipping costs were $5,300, which included $230 for insurance in transit. Installation costs totaled $11,800, which included $3,500 for taking out a section of a wall and rebuilding it because the press was too large for the doorway. The capitalized cost of the 10-ton draw press is:
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