UMPI Co . purchased land costing $ 2 , 5 5 0 , 0 0 0 as
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Question:
UMPI Co purchased land costing $ as a future factory site. UMPI paid $ to tear down two buildings on the land. Some Amish folks came along and paid them from the scrap lumber. They paid $ cash for it UMPI paid the lawyer $ in fees for the title investigation and for making the purchase. The architect's fees were $ The cost for the title insurance was $ and liability insurance costs during the construction phase for the factory was $ The excavation cost to clear the ground for the new building was $ They paid the building contractor $ The interest costs during the construction phase of the building was $ What should UMPI record as cost of the land?
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