QUESTION 1 Not complete Marked out of 1.00 Flag question Recording an Inventory Purchase Shields Company has purchased inventories incurring the following costs: (a) the invoice amount of $500, (b) shipping charges of $30, (c) interest of $10 on the $500 borrowed to finance the purchase, and (d) $5 for the cost of moving the inventory to the company's warehouse Required Determine the cost to be assigned to the inventory Record the purchase using "T" accounts. Inventory (A) Accounts Payable (L) Notes Payable (L) Interest Expense, Discounts Lost (E)