Fesco Jewelers Ltd. purchased store fixtures, display cases, and a maximum-security commercial safe for a lump-sum price
Question:
Fesco Jewelers Ltd. purchased store fixtures, display cases, and a maximum-security commercial safe for a lump-sum price of $18,000 from a bankrupt competitor. Appraised values were as follows: store fixtures, $9,000; display cases, $13,500; commercial safe, $7,500.
Required:
What cost should be recorded for the commercial safe?
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Related Book For 
Accounting What the Numbers Mean
ISBN: 978-1260565492
12th edition
Authors: David Marshall, Wayne McManus, Daniel Viele
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