Answer:
C. $57,924.
Explanation:
Inventory do not only include the purchase price but also includes the cost to bring the inventory at its place.
Therefore, the freight paid for bringing the inventory is included in its cost.
Further the terms of purchase provide, total 30 days credit period and 2% discount if the payment is made within 10 days.
In the given instance there is an outward return of goods worth $1,200
Thus, total goods received = $60,000 - $1,200 = $58,800
Since payment made in 10 days, discount = $58,800 [tex]\times[/tex] 2% = $1,176
Thus, cost of goods excluding freight = $58,800 - $1,176 = $57,624
Total carrying cost of goods = $57,624 + $300 freight in
= $57,924.
