Business, 14.02.2020 05:55 bmia7757

The following information was extracted from the accounting records of Nimoy Mfg. LLP: On February 5, 2019, Nimoy Mfg. LLP ordered 225,000 pounds of material from its supplier at a total purchase price of $450,000. The materials were to be shipped via Scott Transporter Co. under FOB Destination terms. On February 12, 2019, Nimoy Mfg. LLP received the goods with an invoice from its supplier that included a 15% volume discount off the original purchase price. On February 13, 2019, the appropriate party received an invoice from Scott Transporter Co. for $2,500 of freight charges. On February 15, 2019, Nimoy Mfg. LLP incurred $54,000 in costs to prepare the materials for use in its manufacturing process. During the remainder of February 2019, Nimoy Mfg. LLP transferred 190,000 pounds of the materials purchased earlier in the month into the factory. Compute the Total Historic Cost of the materials purchased and prepared by Nimoy Mfg. LLP during February 2019.

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The following information was extracted from the accounting records of Nimoy Mfg. LLP: On February 5...

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