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a company purchased new equipment for $52,000. the company paid cash for the equipment. other costs associated with the equipment were: transportation costs, $2,200; sales tax paid $3,700; and installation cost, $2,900. the cost recorded for the equipment was:

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tutorconsortium120

The cost price of an item is its purchase price or the cost of production, which is expressed as $ 60,600.

How do the selling price and the cost price differ?

Profit is the difference between the price paid and the costs spent. The business makes $4 in profit if a customer spends $10 on a product that cost $6 to produce and sell.

The distinction between cost of sales and cost of goods sold is that the latter relates to the overall cost of a business producing a good or service for consumer purchase, whilst the former refers to the company's cost to produce products from parts or raw materials.

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tutorconsortium127

The cost recorded for the equipment was $61,400.

How do the selling price and the cost price differ?

  • Profit is the difference between the price paid and the costs spent. The business makes $4 in profit if a customer spends $10 on a product that cost $6 to produce and sell.
  • The distinction between cost of sales and cost of goods sold is that the latter relates to the overall cost of a business producing a good or service for consumer purchase, whilst the former refers to the company's cost to produce products from parts or raw materials.

New Equipment + transportation cost + Sales tax + installation cost =

$52,000 + $2,200 + $3,500 + $3,700 = $61,400.

To learn more about selling price  refer to:

https://brainly.com/question/1153322

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