A company acquired an office building, land, and equipment in a single basket purchase. The fair values were $1,840,000,$1,380,000, and $1,380,000 for the building, land, and equipment, respectively. The company recorded the building for $1,370,000. What was the total purchase cost for all three assets? Multiple Choice $2,045,000 $3,425,000 $4,600,000 $3,125,000 A company sells inventory that is subject to a great deal of price volatility. A recent item of inventory that cost $21.80 was marked up $13.60, marked down for a sale by $6.60 and then had a markdown cancellation of $3.20. The latest selling price is: Multiple Choice $32.00. $28.40. $27.96. $38.60