Owner of 555 Antiques, antique dealers, purchased a rare collection of superhero comic books for a bid price of $37,500. The terms of the purchase were FOB shipping point, and the cost of transporting the goods to 555 Antiques’ warehouse was $1,200. 555 Antiques insured the shipment at a cost of $150. Prior to placing the goods in the store, they cleaned and refurbished some merchandise at a cost of $490 for labour and parts. Determine the cost of the inventory acquired in the purchase of the estate’s contents.