Question: If TechKitchen is going to consider near shoring their components, they will need to have a good handle on the landed costs for both approaches.

If TechKitchen is going to consider near shoring their components, they will need to have a good handle on the landed costs for both approaches. They have decided to start the analysis with their current supply chain configuration, and had the procurement staff gather several pieces of information:
The FAS price is 1184 dollars per component. (Note: FAS is an Incoterm which means "Free Alongside Ship".)
The cost of transportation from the suppliers facility to the port of export in Thailand is 220 dollars per component.
The cost of loading into the ship is 15 dollars per component.
The components are transported by ocean to the port of import in the USA. The cost of ocean freight is 210 dollars per component.
The cost of the marine insurance is 90 dollars per component.
The USA is an FOB country, and the import duty is 3.0% for this component.
Calculate the CIF Value, Import Duty, and Landed Cost below. Pay close attention to IncoTerms and their components. Round your answer to the nearest integer, and don't use a currency sign. Do not round intermediate steps.
What is the CIF value per component?

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