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Exercise 144 Doran Realty Company purchased a plot of ground for $1,900,000 and spent $4,100,000 in developing it for building lots. The lots were classified
Exercise 144 Doran Realty Company purchased a plot of ground for $1,900,000 and spent $4,100,000 in developing it for building lots. The lots were classified into Highland, Midland, and Lowland grades, to sell at $120,000, $90,000, and $60,000 each, respectively. Complete the table below to allocate the cost of the lots using a relative sales value method Apportioned Cost No. of Grade Lots Selling Price Total Revenue o of Total Sales Total Highland 20 Midland Lowland 100 Per Lot 40 160 Click if you would like to Show Work for this question: Open Show Work
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