Invoice price of goods is $1,000. Purchase terms are 1/10, n/30 and the invoice is paid in

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Invoice price of goods is $1,000. Purchase terms are 1/10, n/30 and the invoice is paid in the week of receipt. The shipping terms are FOB shipping point, and the shipping costs amount to $200. What is the total cost of the inventory?

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Financial Accounting: A Business Process Approach

ISBN: 978-0136115274

3rd edition

Authors: Jane L. Reimers

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Question Posted: Sep 01, 2014 12:34 PM

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Invoice price of goods is $1,000. Purchase terms are 1/10, n/30 and the invoice is paid in

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Financial Accounting: A Business Process Approach

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