Walberg Associates, antique dealers, purchased goods for $37,500. Terms of the purchase were FOB shipping point,...

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Walberg Associates, antique dealers, purchased goods for $37,500. Terms of the purchase were FOB shipping point, and the cost of transporting the goods to Walberg Associates's warehouse was $1,200. Walberg Associates insured the shipment at a cost of $150. Prior to putting the goods up for sale, they cleaned and refurbished them at a cost of $490. Determine the cost of inventory. Cost of inventory Total cost of inventory $ 0 Walberg Associates, antique dealers, purchased goods for $37,500. Terms of the purchase were FOB shipping point, and the cost of transporting the goods to Walberg Associates's warehouse was $1,200. Walberg Associates insured the shipment at a cost of $150. Prior to putting the goods up for sale, they cleaned and refurbished them at a cost of $490. Determine the cost of inventory. Cost of inventory Total cost of inventory $ 0

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