Soccer Wholesale purchased land and a warehouse for one price of $710,000. In addition to...
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Soccer Wholesale purchased land and a warehouse for one price of $ In addition to the purchase price, Soccer Wholesale makes the following expenditures related to the acquisition: commission to sales agent, $; title insurance, $; and miscellaneous closing costs, $ The warehouse is immediately demolished at a cost of $ in anticipation of building a new warehouse. Required: Determine the amount Soccer Wholesale should report as the cost of the land. 
Soccer Wholesale purchased land and a warehouse for one price of $ In addition to the purchase price, Soccer Wholesale makes the following expenditures related to the acquisition: commission to sales agent, $; title insurance, $; and miscellaneous closing costs, $ The warehouse is immediately demolished at a cost of $ in anticipation of building a new warehouse.
Required:
Determine the amount Soccer Wholesale should report as the cost of the land.
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