Rodgers Company Purchased Equipment and These Costs Were Incurred Rodgers Will Record the Acquisition Cost of the Equipment as

Rodgers Company purchased equipment and these costs were incurred: $\begin{array}{lr}\text { Cash price } & \$ 55,000 \\\text { Sales taxes } & 3,600 \\\text { Insurance during transit } & 640 \\\text { Installation and testing } & 860 \\\text { Total costs } & \$ 60,100\end{array}$ Rodgers will record the acquisition cost of the equipment as

A) $55,000.
B) $58,600.
C) $59,240.
D) $60,100.

Correct Answer:

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