Clam Inc. purchased land as a warehouse for P600,000. Clam paid P60,000 to tear down two buildings on the land. Scrap was sold for P5,400. Legal dues of P3,480 were paid for title investigation and making the purchase. Architect's fees were P31,200. Title insurance cost P2,400, and liability insurance during construction cost P2,600. Excavation cost P10,440. The contractor was paid P2,200,000. An assessment made by the city for pavement was P6,400. Interest costs during construction were P170,000.

REQUIRMENTS:

A. The cost of the land that should be recorded by Clam Inc. is? B. The cost of the building that should be recorded by Clam Inc. is?