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Fesco Jewelers Ltd, purchased store fixtures, display cases, and a maximum-security commercial safe for a lump- sum price of $32,000 from a bankrupt competitor .
Fesco Jewelers Ltd, purchased store fixtures, display cases, and a maximum-security commercial safe for a lump- sum price of $32,000 from a bankrupt competitor . Appraised values were as follows: store fixtures, $16,000; display cases, $20,000; commercial safe, $14,000. Required: What cost should be recorded for the commercial safe? (Do not round intermediate calculations.) Cost of commercial sale
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