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Find what the cost of inventory would be

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Question 1: A company purchased inventory for $74,000 from a vendor on account, FOB shipping point, with terms of 3/10, n/45. The company paid the shipper $1,500 cash for freight. The company paid the vendor nine days after the sale. The cost of inventory would be ________.

Option 1: $75,500
Option 2: $73,280
Option 3: $72,500
Option 4: $70,280

Reference no: EM132913797

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