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How much is the cost of the machine

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Question - On January 1, 2022, Collide Company purchased a machine from a supplier which trade discount of 10%. An additional 4% cash discount if the account is within 30 days form the date of invoice. The machinery will be used for 6 years. Information related to this acquisition were as follows:

List price of the machine acquired P4,000,000

Freight, unloading, and delivery charges for machinery acquired 110,000

Custom duties and other charges for machinery acquired 480,000

Allowances and hotel accommodation paid to foreign technicians during installation and test run of machine 600,000

Cost of training for personnel who will use the machine 230,000

Required - How much is the cost of the machine?

Reference no: EM133183292

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