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On January 15, Frazier Company received merchandise for resale from its normal supplier. The invoice price was $3,600 with terms of 4/10, n/30 for 100
On January 15, Frazier Company received merchandise for resale from its normal supplier. The invoice price was $3,600 with terms of 4/10, n/30 for 100 units of Part #345. The invoice was paid on January 19. Freight costs were $120 and the company paid $108 of interest on a loan to buy the inventory. What is the unit cost that should be recorded for each of the 100 units of Part # 345?
1$37.20
2$36.00
3$34.56
4None of the others alternatives are correct
5$35.76
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