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Business, 07.03.2020 05:03 micahpauleen748

An item was shipped from a supplier under FOB shipping point. The invoice in the amount of $2,000 included payment terms of 2/10, n/30. When the invoice was paid, a purchase discount in the amount of $40 was taken. Other details relating to the purchase of this item included the following: freight charges of $300, import duties of $50, and insurance premiunm of $100. The cost of this inventory item is:.
1. $1,960
2. $2,410
3. $2,401
4. $2,404

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