A Company Purchased Inventory for $71,000 from a Vendor on Account,FOB

Multiple Choice

A company purchased inventory for $71,000 from a vendor on account,FOB shipping point,with terms of 3/10,n/30.The company paid the shipper $1,700 cash for freight in.The company paid the vendor nine days after the invoice date.If there was no beginning inventory,the cost of inventory would be ________.(Assume a perpetual inventory system.)

A) $70,570
B) $72,700
C) $67,170
D) $69,300