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Fesco Jewelers Ltd. purchased store fixtures, display cases, and a maximum-security commercial safe for a...

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Accounting

Fesco Jewelers Ltd. purchased store fixtures, display cases, and a maximum-security commercial safe for a lump-sum price of $16,000 from a bankrupt competitor. Appraised values were as follows: store fixtures, $9,000; display cases, $12,000; commercial safe, $11,000. Required: What cost should be recorded for the commercial safe? (Do not round intermediate calculations.)

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