The Young Outdoor Clothing company owned the following assets at the end of its ac- counting period:

(a) Land on which it had built a warehouse

(b) Land on which it is planning to build a new store two years from now

(c) A retail store

(d) Shelving used for the display of products

(e) Old cash registers that were replaced by point-of-sale systems and will be sold next year

(f) Goods held for sale in a warehouse Required: Which of the assets are the company’s property, plant, and equipment? Explain your reasoning.

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