Identifying inventory cost inclusions. Intervest Corporation, a real estate developer, purchased a tract of land for $45().()()(). Intervest intends to develop and subdivide the land for construction of residential homes. Legal costs related to the acquisition totaled $12,000. Property taxes and insurance during the development of the land totaled $22,900. Development costs totaled $689,000. Advertising costs incurred to sell the land totaled $38,200. Identify the costs that Intervest should include in its Land Inventory account.