Reference no: EM132892261
Question - You have been provided the following information for FAMFA Inc (a retail company) for the year ending December 31, 2015.
Interest expense $17,090
Beginning Inventory $63,210
Depreciation Expense $12,510
Management salaries $17,950
Advertisng expense $12,930
Ending Inventory $68,390
Gross sales $462,720
Taxes $3,270
Returns and allowances $10,210
Lease payments $39,270
Materials purchases $228,580
R & D expenditures $4,890
Repairs and maintenance costs $2,910
Assuming that accumulated depreciation for December 31, 2014 was $212,820 and that FAMFA did not sell any fixed assets, what will be the accumulated depreciation on December 31, 2015?
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