Walberg Associates, antique dealers, purchased the contents of an estate for $38,600. Terms of the purchase were FOB shipping point, and the cost of transporting the goods to Walberg Associates' warehouse was $1,750. Walberg Associates insured the shipment at a cost of $260. Prior to putting the goods up for sale, they cleaned and refurbished them at a cost of $600. Determine the cost of the inventory acquired from the estate