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Determine the cost of inventory

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Question - Walberg Associates, antique dealers, purchased goods for $39,100. Terms of the purchase were FOB shipping point, and the cost of points transporting the goods to Walberg Associates's warehouse was $2,000. Walberg Associates insured the shipment at a cost of $310. Prior to putting the goods up for sale, they cleaned and refurbished them at a cost of $650. Determine the cost of inventory.

Reference no: EM133130301

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