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
Here is how you calculate this:
Your goods cost is $3500.
This solution explains how to figure out total cost of inventory based upon purchase terms.