A car dealer acquires a used car for $15,000, with terms FOB shipping point. Compute total inventory costs assigned to the used car if additional costs include . $150 for transportation-in. $190 for shipping insurance. $730 for car import duties. $200 for advertising. . $1,500 for sales staff salaries. $200 for trimming shrubs. Cost Included in Inventory Cost Expensed as incurred Cost Transportation-in Import duties $ 15,000 150 730 Insurance during shipment 190 Advertising 200 Sales staff salaries 1,500 Trimming shrubs 200 Total $ 17,970

A car dealer acquires a used car for $15,000, with terms FOB shipping point. Compute total inventory costs assigned to the used car if additional costs include . $150 for transportation-in. $190 for shipping insurance. $730 for car import duties. $200 for advertising. . $1,500 for sales staff salaries. $200 for trimming shrubs. Cost Included in Inventory Cost Expensed as incurred Cost Transportation-in Import duties $ 15,000 150 730 Insurance during shipment 190 Advertising 200 Sales staff salaries 1,500 Trimming shrubs 200 Total $ 17,970

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

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A car dealer acquires a used car for $15,000, with terms FOB shipping point. Compute total inventory costs assigned to the used car if
additional costs include
. $150 for transportation-in.
$190 for shipping insurance.
$730 for car import duties.
$200 for advertising.
. $1,500 for sales staff salaries.
$200 for trimming shrubs.
Cost
Included in
Inventory Cost
Expensed as
incurred
Cost
Transportation-in
Import duties
$
15,000
150
730
Insurance during shipment
190
Advertising
200
Sales staff salaries
1,500
Trimming shrubs
200
Total
$
17,970

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