Carpino Company purchased equipment and these costs were incurred: $$\begin{array} { l r }
\text { Cash price } & \$ 75,000 \
\text { Sales taxes } & 3,500 \
\text { Insurance during transit } & 750 \
\text { Installation and testing } & 1,500 \
\text { Total costs } & \$ 80,750
\end{array}$$ What amount should be recorded as the cost of the equipment?

Question

Carpino Company purchased equipment and these costs were incurred: $$\begin{array} { l r } 
\text { Cash price } & \$ 75,000 \
\text { Sales taxes } & 3,500 \
\text { Insurance during transit } & 750 \
\text { Installation and testing } & 1,500 \
\text { Total costs } & \$ 80,750
\end{array}$$ What amount should be recorded as the cost of the equipment?

Quizplus · Accepted Answer

The Answer of Carpino Company purchased equipment and these costs were incurred: $$\begin{array} { l r } 
\text { Cash price } & \$ 75,000 \
\text { Sales taxes } & 3,500 \
\text { Insurance during transit } & 750 \
\text { Installation and testing } & 1,500 \
\text { Total costs } & \$ 80,750
\end{array}$$ What amount should be recorded as the cost of the equipment?

Carpino Company Purchased Equipment and These Costs Were Incurred What Amount Should Be Recorded as the Cost of the