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Foss company bought land with a vacant building for $400,000. Foss will use the building...

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Accounting

Foss company bought land with a vacant building for $400,000. Foss will use the building in its operations. must Foss allocate the purchase price between the land an building. Why or why not? would your answer be different if foss intends to raze the building and build a new one? why or why not?

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