Flaxco purchases inventory from overseas and incurs the

Reference no: EM13598253

Flaxco purchases inventory from overseas and incurs the following costs: the cost of the merchandise is $50,000, credit terms are 2/10, n/30 that apply only to the $50,000; FOB shipping point freight charges are $1,500; insurance during transit is $500; and import duties are $1,000. Flaxco paid within the discount period and incurred additional costs of $1,200 for advertising and $5,000 for sales commissions. Compute the cost that should be assigned to the inventory.

Reference no: EM13598253

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Flaxco purchases inventory from overseas and incurs the

Reference no: EM13598253

Reference no: EM13598253

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