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Determine the cost of inventory

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Question: Walberg Associates, antique dealers, purchased goods for $38,900. Termsof the purchase were FOB shipping point, and the cost of transporting thegoods to Walberg Associates's warehouse was $1,900. Walberg Associatesinsured the shipment at a cost of $290. Prior to putting the goods up forsale, they cleaned and refurbished them at a cost of $630.Determine the cost of inventory.

Reference no: EM133552188

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