Elite Apparel purchased 90 new shirts and recorded a total cost of $2,620 determined as follows: Invoice

Question:

Elite Apparel purchased 90 new shirts and recorded a total cost of $2,620 determined as follows:
Invoice cost ....................... $2,180
Shipping charges ..................... 175
Import taxes and duties .................. 145
Interest (5.5%) on $2,180 borrowed to finance the purchase ..... 120
$2,620
Required:
Make the needed corrections in this calculation. Give the journal entry(ies) to record this purchase in the correct amount, assuming a perpetual inventory system. Show computations.