Question: I Ltd . purchases $ 2 0 , 0 0 0 of devices for resale. The company also spends $ 5 0 0 in transportation

I Ltd

.

purchases $

20, 000

of devices for resale. The company also spends $

500

in transportation cost to have the devices shipped from the supplier, $

2, 000

in labour and parts to upgrade the devices, and $

300

to advertise. Assuming the company uses a perpetual inventory system, what amount should appear in the inventory account for these devices based on these transactions?

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