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What amount should be recorded as the cost of the equipment

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Reference no: EM131643703

Question - Crane Company purchased equipment and these costs were incurred:

Cash price $56000

Sales taxes 2700

Insurance during transit 510

Installation and testing 1450

Total costs $60660

What amount should be recorded as the cost of the equipment?

$60660.

$56000.

$58700.

$59210.

Reference no: EM131643703

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