Hasham Purchases Inventory from Overseas and Incurs the Following Costs

question 33

Multiple Choice

Hasham purchases inventory from overseas and incurs the following costs: the merchandise cost is $80,000,credit terms 1/10,n/30,applicable only to the $80,000;FOB shipping point freight charges are $2,500;insurance during transit is $300;and import duties are $1,500.Hasham paid within the discount period.Compute the cost that should be assigned to the inventory.

• A)$83,500
• B)$79,200
• C)$81,700
• D)$84,300
• E)$81,000

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Definitions:

Portfolio

A collection of investments or projects held by an individual, organization, or financial institution, diversified to manage risk and achieve goals.

Human Capital

The competencies, insights, and accumulated experiences of a person or a community, seen from the perspective of their contribution to an organization.

Organizational

Relating to the structure or coordination of components within a company or institution.

Job Insecurity

The fear or risk of losing one's job, often due to economic conditions, organizational changes, or industry disruptions.