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Marianna [84]
3 years ago
10

Walberg Associates, antique dealers, purchased the contents of an estate for $75,000. Terms of the purchase were FOB shipping po

int, and the cost of transporting the goods to Walberg Associates’s 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 inventory acquired from the estate.
Business
1 answer:
Greeley [361]3 years ago
3 0

Answer:

$3680

Explanation:

The cost of inventory is the cost incurred during assembly/preparing a product for sale and can include warehouse costs and insurance expenses.

In this case,  warehouse was $2,400, insured the shipment at a cost of $300 and refurbishing  at a cost of $980.

=$2400+$300+$980 =$3680

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Answer:

Option D is the best which state that Jake is entitled to sell his house and pay the creditors on a pro-rata basis

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Based on the information given about Jake in which we were been told that Jake owed the amount of $15,000 each to two of his creditors and another amount of $5,000 each to two others creditors we can vividly say that Jake is entitled to sell his house which worth the amount of $30,000 and pay the creditors on a pro-rata basis by given the amount he owed to one of the creditors based on to their share of the total or whole amount .

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Under Eagle Co.'s job costing system, manufacturing overhead is applied to Work-in-Process using a predetermined annual overhead
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Answer:

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