Question
Lionworks Corporation made a basket purchase of three items. Item X was appraised at$35,000; item Y was appraised at$55,000; and item Z was appraised at$60,000.
Lionworks Corporation made a basket purchase of three items. Item X was appraised at$35,000; item Y was appraised at$55,000; and item Z was appraised at$60,000. The purchase price was$125,000. The amount at which item X should be recorded(rounded to the nearestdollar) is:
A. $38,043. B. $41,667. C. $29,167. D. $42,000.
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College Accounting Chapters 1-9
Authors: James Heintz
22nd Edition
1305888537, 978-1305666184
