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
Grade	No. of Lots	Selling Price	Total Revenue	% of Total Sales	Total	Per Lot
Highland	20	$	$	%	$	$
Midland	40			%
Lowland	100			%
160	$	$