Question

Parker Books purchased 200 books, paying $10 each. Parker paid total shipping costs of $40 and a total of $30 in binding repair fees so that those books could be sold. How much is the cost of inventory

Answer 1

Answer:

$2,070

Explanation:

Given that,

Number of books purchased = 200

Cost of each book = $10

Cost of shipping = $40

Cost of binding repair fees = $30

Cost of inventory:

= Cost of books purchased + Cost of shipping + Cost of binding repair fees

= (Number of books × Cost of each book) + $40 + $30

= (200 × $10) + $40 + $30

= $2,000 + $40 + $30

= $2,070