Acme Company in the United States paid $7,000 to a Brazilian factory for a shipment of hula hoops, CIF terms of sale. The $7,000 consists of $6,500 for the toys and $500 for ocean freight and insurance. The Brazilian factory charged Acme Company $8,250 for the toys; however, because the Brazilian factory owed Acme Company $1,750, the Brazilian factory charged only $6,500 for the hula hoops. What is the transaction value?
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See options → Already bought? Sign inCBP answer key: Answer C · 19 CFR 152.103(a)(2); 19 CFR 152.102(f)Source: CBP past exams ↗