You are importing denim jackets from a company in Hong Kong. The price you pay to the
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Question:
You are importing denim jackets from a company in Hong Kong. The price you pay to the supplier is $22.00/piece FOB Hong Kong. The seller has purchased the jackets from a factory for $15.00/piece FCA Hong Kong. Additional costs associated with the transaction include international ocean freight to New York of $1.00/piece and insurance of $0.50/piece. The rate of duty on the jackets is 15%. The dollar amount of duty is:
(a) $2.25
(b) $3.30
(c) $2.10
(d) $3.15
Related Book For
Principles of Auditing and Other Assurance Services
ISBN: 978-0078025617
19th edition
Authors: Ray Whittington, Kurt Pany
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