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Compute the acquisition cost of the equipment

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Reference no: EM132748737

Question - H Company Ltd purchased factory equipment with an invoice price of $90,000. Other costs incurred were freight costs, $1,100; installation, wiring and foundation, $2,200; material and labour costs in testing equipment, $700; oil lubricants and supplies to be used with equipment, $500; fire insurance policy covering equipment, $1,400. The equipment is estimated to have a $5,000 salvage value at the end of its 8-year useful service life. Compute the acquisition cost of the equipment. Clearly identify each element of cost.

Reference no: EM132748737

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