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What cost should be recorded for the commercial safe

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Question - Fesco Jewelers Ltd. purchased store fixtures, display cases, and a maximum-security commercial safe for a lump-sum price of $13,000 from a bankrupt competitor. Appraised values were as follows: store fixtures, $8,000; display cases, $11,000; commercial safe, $7,000. What cost should be recorded for the commercial safe?

Reference no: EM132686944

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