Walberg Associates, antique dealers, purchased goods for $39,500. Terms of the purchase were FOB shipping point, and the cost of transporting the goods to Walberg Associates's warehouse was $2,200. Walberg Associates insured the shipment at a cost of $350. Prior to putting the goods up for sale, they cleaned and refurbished them at a cost of $690. Determine the cost of inventory. Book Hint Cost of inventory Print I. eferences Total cost of inventory