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A car dealer acquires a used car for $18,000, terms fob shipping point. additional costs in obtaining and offering the car for sale include $180 for transportation-in, $810 for import duties, $140 for insurance during shipment, $140 for advertising, and $1,000 for sales staff salaries. for computing inventory, what cost is assigned to the used car?

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jushmk
On FOB terms, the buyer:
1. Pays the cost of the goods, a car in this case.
2. Pays for transportation of the goods.
3. Pays import duties.
4. Pays for insurance.
However, advertising and salaries are general and administrative expenses and thus related to operation expenses and not production expenses.

In this case,
Assigned cost of the used car = 18,000+180+810+140 = $19,130

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