Problem/Question #4 - Basket or Lump-Sum Purchases (10 points) Often companies will purchase multiple Fixed Assets at the same time. When they do purchase multipl Fixed Assets at the same time, they must allocate the Purchase Price to each of the Fixed Assets Required: A. Allocate the Purchase Price of this Basket or Lump-Sum purchase Cost of Asset When New Purchase Price Appraised Amount Asset Equipment $420,000 $180,000 $220,000 Furniture $360,000 $60,000 $100,000 Machinery $268,000 $120,000 $80,000 Total $1,048,000 $360,000 $400,000