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Cullumber Limited purchased four articulated robots on account on May 1,2024, at an invoice price...

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Accounting

Cullumber Limited purchased four articulated robots on account on May 1,2024, at an invoice price of $506,000. On May 2, it paid $4,000 for delivery of the robots. A one-year, $5,500 insurance policy on the robots was purchased on May 3. On May 30, Cullumber paid $10,000 for assembly, installation and testing of each robot on a production line. The robots started operating or were ready for use on July 1. Calculate Cost of Robots

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