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Walberg associates, antique dealers, purchased

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Reference no: EM13905150

1. Walberg Associates, antique dealers, purchased the contents of an estate for $ 75,000. Terms of the purchase were FOB shipping point, and the cost of transporting the goods to Walberg Associates warehouse was $ 2,400. Walberg Associates insured the shipment at a cost of $ 300. Prior to putting the goods up for sale, they cleaned and refurbished them at a cost of $ 980. Determine the cost of the inventory acquired from the estate.

Reference no: EM13905150

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