Explore BrainMass

Explore BrainMass

    Invoice/shipping terms FOB

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Invoice price of goods is $3,500. Purchase terms are 3/10, n/30, and the invoice is paid in the week of receipt. The shipping terms are FOB shipping point, and the shipping costs amount to $330. What is the total cost of inventory?

    © BrainMass Inc. brainmass.com June 4, 2020, 3:31 am ad1c9bdddf
    https://brainmass.com/business/accounting/invoice-shipping-terms-fob-519840

    Solution Preview

    Here is how you calculate this:

    Your goods cost is $3500.
    You ...

    Solution Summary

    This solution explains how to figure out total cost of inventory based upon purchase terms.

    $2.19

    ADVERTISEMENT