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Question: Chester Davis is the owner of a large construction company. He went to a local foreclosure sale and purchased a car and two dump trucks for the lump sum price of $60,000. Chester tells Tori Lilly, who is the company controller, that she should record the purchase at $75,000 because that is the true "value" of the assets. Tori disagrees and tells Chester that she needs an itemization of the $60,000 cost so that she can correctly record the lump sum purchase. Who do you support? Why?
Please analyze the asset turnover.(please do not copy any info from google or investopedia)
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