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Southwest Milling Co. purchased a front-end loader to move stacks of lumber. The loader had a list price of $122,520. The seller agreed to allow

Southwest Milling Co. purchased a front-end loader to move stacks of lumber. The loader had a list price of $122,520. The seller agreed to allow a 4.50 percent discount because Southwest Milling paid cash. Delivery terms were FOB shipping point. Freight cost amounted to $2,350. Southwest Milling had to hire a specialist to calibrate the loader. The specialists fee was $960. The loader operator is paid an annual salary of $18,960. The cost of the companys theft insurance policy increased

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