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Compute the total resale costs to be capitalized

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Problem 1: Sugarcane Company incurs handling costs totaling $15 million and purchasing costs of $4 million. Inventoriable general and administrative costs related to handling and purchasing totals $1 million. Purchases for the year are $100 million. Sugarcane Company uses FIFO. Its purchases in ending inventory total $40 million. Compute the total resale costs to be capitalized to ending inventory using the simplified resale method.

Reference no: EM132827860

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