Rivers associates insured the shipment at a cost of 300., Ask an Expert

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Rivers 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 Rivers Associates' warehouse was $1,800. Rivers 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 $1,750. Determine the cost of the inventory acquired from the estate.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M990589

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