On November 5,2020, TEE Company purchased a land and a building for a lump-sum amount of 5,500,000 from BEE Corp. The land was purchased by BEE last October of 2005 for 1,750,000 and the building was constructed on February of 2006 for 4,000,000. The fair values of the land and building on the date of acquisition are 1,100,000 and 1,650,000, respectively. How much is allocated to land and building upon initial recognition of TEE?

a. LAND - 2,750,000 BUILDING - 2,750,000 b. LAND - 0 BUILDING - 5,500,000 c. LAND - 2,200,000 BUILDING -3,300,000 d. LAND - 1,673,913 BUILDING - 3,826,087 e. LAND - 2,750,000 BUILDING - 0

On december 28, 2020, Trim Company purchased goods costing 500,000. The terms were FOB destination. Some of the costs incurred in connection with the sale and delivery of the goods were packaging for shipment 10,000, shipping 15,000 and special handling charges 25,000. These goods were received on December 31,2020. On December 31,2020, what total cost for these goods should be included in inventory?

a. 500,000 b. 550,000 c. 525,000 d. 510,000