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What amount will jims record for inventory

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Jim's Hat Shop received a shipment of hats for which it paid the wholesaler $2,970. The price of the hats was $3,000 but Jim's was given a $30 cash discount and required to pay freight charges of $50. In addition, Jim's paid $130 to cover the travel expenses of an employee who negotiated the purchase of the hats. What amount will Jim's record for inventory? Why?

Reference no: EM13548878

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