Fogelberg Company purchased equipment for $30,000. Sales tax on the purchase was $1,500. Other costs incurred were freight charges of $400, repairs of $700 for damage during installation, and installation costs of $450. What is the cost of the equipment?

Cost of the equipment = $32350

Explanation:

given data

purchased equipment = $30,000

Sales tax = $1,500

freight charges = $400

repairs = $700

installation costs = $450

solution

we get here Cost of the equipment that is express as

Cost of the equipment = Purchase cost + Sales tax paid + Freight + Installation cost ... 1

put here value and we will get

Cost of the equipment = $30000 + $1500 + $400 + $450

Cost of the equipment = $32350