Connect Homework - Chapter 5 A Saved Help Save & Exit Submit Exercise 5-2 Inventory costs LO C2 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. points Determine the cost of inventory. eBook Cost of inventory Print References Total cost of inventory