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At what amount should Kitchen Supply record the factory

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Problem - Kitchen Supply Corporation obtained land, a factory, and manufacturing equipment in a lump-sum purchase for $990,000. An appraisal set the value of the land at $592,800, the factory at $421,800, and the equipment at $125,400. Immediately after the purchase, the factory was renovated at a cost of $50,000. At what amount should Kitchen Supply record the factory?

a. $416,300

b. $421,800

c. $366,300

d. $471,200

e. $535,709

Reference no: EM132858377

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