Question
6.1 Basket Purchase Allocation. Minott Jewelers, Ltd., purchased store fixtures, display cases, and a amaximum security commercial safe for a lump sum price of 14,000
6.1 Basket Purchase Allocation.
Minott Jewelers, Ltd., purchased store fixtures, display cases, and a amaximum security commercial safe for a lump sum price of 14,000 from a bankruptcy competitor. Appraised values were as follows: store fixtures, $6,000: display cases, $9,000: commercial safe, $5, 000.
What cost should be recorded for the commercial safe?
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Management And Cost Accounting
Authors: Charles T. Horngren, George Foster, Srikant M. Datar
3rd Edition
