On january 1 2007 shaffer co purchased inventory for 1000


On January 1, 2007, Shaffer Co. purchased inventory for $1,000 cash. These goods were sold on April 30, 2007 for $1,400 cash. The company can currently earn 3% interest on an account at a bank. What was Shaffer's cost of financing this inventory?

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Macroeconomics: On january 1 2007 shaffer co purchased inventory for 1000
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